Trading Day 29th April

Midday Summary
The market opened down sharply this morning, but on a positive lead from Wall Street, which is curious. Support at 4875 points is currently broken, with the 63 day moving average the next level of support (4800 points).

Momentum is now negative but not conclusive – I would consider this part of another dip as inflation figures and house price “tapering” (love that word) is factored into share prices. The savvy short term trader can find action on overseas markets as the Aussie continues to stagnate.

Click on full screen icon or download the full report here: Trading Day 29th April 2011

Comments

  1. Chris,

    You do realise that this is how Marcus Padley started with his daily newsletter.

    Good Luck……

  2. Thanks for the comment Mark – I like Marcus’ stuff, he’s not your usual “this is easy folks” kind of stock pro.

    His presentation on the actual return on the ASX200 over the last 100 years is brilliant. I’ll try to find it amongst the GB’s of research reports I have lying around (also has a good mp3 attached) and I might post it up.