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Thursday 31st March, 2011

Thu, Mar 31, 2011

ASX Commentary

Weekly Trend: Up
Daily Trend: Up
Daily Momentum: ___ Up

The Dow Jones put on another 71.6 points over night. It, and the Dow Jones Transport Index are a whisker away from new highs for this year, ready to exceed those in made in February. The S&P500 and the Nasdaq both have just a little more work to do to achieve the same. The XJO needs another 107 points or so to eclipse its February highs. Today, the XJO managed more gains as it closed another 15.7 points higher to add to a solid 10 days of price action. Despite this, we see a somewhat volatile month finish essentially flat – with just a 6.22 point gain. Good gainers on the sector front today included Health, Materials and Metals/Mining, all up 1.3% or more. Those that struggled the most were the Consumer Staples and Consumer Discretionary sectors which both closed 0.7% lower.

About the Author:

Nick Radge has over 25 years’ experience in the financial markets. He is Head of Research & Trading at The Chartist, manages money using active management strategies and consults to various financial planning, stock broking and accountancy firms. He can be found on Facebook, Google + and on Twitter.

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