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Tuesday December 14th, 2010

Tue, Dec 14, 2010

ASX Commentary

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

Another day of modest gains for our market today, lead by resource stocks, after they took a breather yesterday. Indeed, we were stopped out of a couple of resource stocks yesterday in the discretionary setups. The XJO continues to nudge its way upward toward the 4800-4815 resistance zone, albeit at an unspectacular pace. The AUD has come off a bit as we write from yesterday’s strong effort. Overseas, China is currently flat and the DOW futures showing small upside.

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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