volume, page-7

I don't have access to volume stats on the XJO.

However, its interesting to look at volume on EWA (Australian iShares) NYSE.

The OBV is still in a distinct uptrend from the August low.

This is a sharp divergence from the trend on price of the EWA (high correlation to XJO).

Could that be due to currency issures?

Perhaps. However, the US$ exchange rate to the AU$ has been in an uptrend since early November - which should suggest that the opposite would be the case.

It seems that international investors who tend to be savvy investors are not concerned by the drop in Australian shares since early November. There's been no indicative drop in the OBV despite the double whammy of a dropping share price and an adverse exchange rate for the US$.

If those investors are right - we can expect a rising OZ share market.

Maybe they're wrong.

Cheers
Red