September 3 2009 – Low volume rally

ASX Commentary

September 3 2009 – Low volume rally

Fri, Sep 4, 2009

Volume was dead low on todays bounce and to me that is a very important warning sign. We may well be seeing a low volume retest before a decent move. Add to this we also have the Employment data being released tomorrow. As we know this tends to be a market mover, either up or down. Technically all signals continue to point lower. The Dow Jones Transports had a good up session but remains below resistance. I really struggle to get bullish again until that kicks up and through resistance to confirm the rest of the market. We still have bearish divergence in place. I’m not going to put forward any more setups until the Employment data is released.

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

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