June 30, 2009 – Summer drift

ASX Commentary

June 30, 2009 – Summer drift

Wed, Jul 1, 2009

The financial year went out with a negative fizzle last night as consumer confidence numbers fell short of expectations. There are numerous more economic releases this week culminating in Thursdays emplyment data, most likely a market mover. This all stands ahead of the July 4 long weekend so be wary of exaggerated movements on light volumes.All in the all the market remians range bound where 888.5 basis the S&P 500 is an important ‘make or break’ level. We also noted last night in the Global Markets area the potential Head & Shoulders top that was being built. The daily trend is up, just. The daily momentum is up, just. We’re stuck in a range.

0saves

Save

If you enjoyed this post, please consider leaving a comment or subscribe to our newsletter and receive a free sample of our analysis each week.

This post was written by:

Nick Radge - who has written 898 posts on The Chartist.

Contact the author

Facebook comments:

Latest Share Trading Articles

The Hidden Strengths of Volume Analysis (part 2) September 19, 2010
In the last article I discussed two examples of how and why volume can show the changing face of supply and demand. When the order of supply and demand is change we will get a change in market direction, sometimes a significant change in trend or otherwise some degree of retracement of the prior move. [...]The Hidden Strengths of Volume Analysis (part 2) is […]
The Hidden Strengths of Volume Analysis (part 1) September 19, 2010
The power of correct volume analysis cannot be overlooked. Unfortunately the ability to read volume correctly is not readily discussed or freely available. Off-the-cuff remarks such as, “increased volume on advances is bullish and increased volume on declines is bearish” are bantered around but that’s as far as it goes. The correct use and application [...]T […]
The Psychology of Trading September 19, 2010
The most important part of investing and trading is psychology. Investing is a constant struggle where the battleground is not the market or advice given but comes from within you. You will face stress over losses, you will be in turmoil in deciding to enter or exit a position and it will place many demands [...]The Psychology of Trading is a post from: Shar […]