2 December 2009 – Employment data looming

ASX Commentary

2 December 2009 – Employment data looming

Thu, Dec 3, 2009

A quiet range bound session that on the surface doesn’t mean a great deal. However, the key Transports index rose again to be very close to the important line of resistance. The fact that the index rose without support of the Dow Industrials could well be signaling that a break higher is nearby. US employment data is being released on Friday. This will be a market moving event, but technicals are pointing to strength should the Transports manage to break out.

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Nick Radge - who has written 899 posts on The Chartist.

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