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Wednesday 13th April, 2011

Wed, Apr 13, 2011

ASX Commentary

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

The XJO recovered a little bit of yesterday’s losses, closing up 12.3 points on average volume. Any gains were made in early morning and early afternoon trade after opening lower and staggering during the last hour. Sectors were mixed as any strength came from the Telecommunication and Industrials sectors. Property and Finance Sectors also fared well. The more volatile sectors of Materials, Metals/Mining and Energy held the market back, all down 0.6% or more. Trades in both ASX portfolios have held up reasonably well with only two being stopped out for the day. US futures are up slightly in night trading at the time of writing so much indication there as to what tomorrow may bring.

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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