Weekly Trend: Up
Daily Trend: Up
Daily Momentum: Neutral
The ASX traded higher today to cap off a week of congestion and minor gains. After a relatively quiet session, the All Ordinaries was up 0.55%. Miners and the Energy sector bounced back a little bit from yesterday's drubbing despite weakness in metals and Iron Ore overnight, the latter off more than five percent. Crude Oil was also down, but only slightly. Info Tech and consumer sectors did reasonably well and the remainder were quite subdued. Small Caps outperformed - the Small Ordinaries advanced one percent. In the US overnight, the S&P 500 closed 0.4% lower but did recover a lot of ground to close well off session lows.
Learn more about the US Momentum strategy here