wall at 40, page-47

$40.74 using current rate of .8552. We need to close above $40.80 to get this Dow Jones guy off our back with his H&S target.

2340 GMT [Dow Jones] S&P/ASX 200 on knife edge, but more likely to fall to 20-day
moving average at 4957.0. Expect near-term break of symmetrical triangle/bear pennant
support near 4900.0, according to Dow Jones technical analysis. Targets are 4758.0,
4500.0 and worst case 3920. No prize for predicting yesterday's test of triangle
support line at 4895.0 - surprise was bounce to resistance line at 5007.5. That recovery
and DJIA's bounce off minor uptrend line likely to get traders bullish today. But
DJIA bounce was hardly conclusive and U.S. news flow mixed, at best. DJIA remains in grip
of bear wedge pattern targeting 10827.7, then 9600.0. Recent U.S. inflation readings and
subprime fallout appear worse than expected. BHP (BHP.AU) is key today as it tests former
"neckline" resistance at A$40.80. Head & shoulders top, targetting A$33.00,
remains valid while A$40.80 holds on closing basis. AUD/USD poised to fall, as is BHP.
Banks also fragile. Focus on domestic credit risks won't help. S&P/ASX 200 last
5007.5. (DWR)