AGE chart, page-1996

Are we walking again?

Yes, AGE on a recovery day gained 1 pip to finish on 7.1c. After the lowest volume of the year yesterday, we were back on our average, over 22m shares traded.

ASX U stocks had a decent day. Of the 19 stocks I track, average gain was 4.5%.

U Future price is still on the move, reaching towards 50. Overnight it gained another 55c to finish on $49.80. US U stocks had a very good night with stocks making good gains. Compared to that we were more subdued.

What next - As I said yesterday, the probability was for a green, and luckily we got that. Tracking the last 3 days around how stocks have generally behaved - a big fall, a small fall, a small gain. I was expecting this small gain today. But today's gain reflected stocks walking again. In this phase of initial walk, many stocks were still hesitant, not totally convinced. If the cycle of 4 days is to be completed, next we should be running. DOW had a big gain yesterday. Probability is for a flat night. But DOW has to give a message, that the recovery which started over a week back, with slight correction, is still continuing. It may surprise us again with a good green. Lets hope so. All the best.