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Thursday December 9th, 2010

Thu, Dec 9, 2010

ASX Commentary

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

All in all a good day for the market with the XJO up about 41 points. We look set to challenge the November highs if this momentum is retained in the coming days, but remain focused on the bigger picture as discussed in last Friday’s XJO analysis. As it stands, the trend is still up so we continue to look for long trades and the ASX Systematic system continues to generate trades. No reason to look for short trades at this point.

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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