AGE Daily Report, page-203

Will this week be defining moment for a bull rally?
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(Will keep it short as covered mostly in the Weekly Report)
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Yes AGE gained 2 pips to finish at 3.8c. Our volume was very good, just over 23m shares traded. Finally we have reached 3.8. It would be good to hold this and play in 3.8/4.6. Not 100% sure if its a rally to keep because there were lot of signs that some ETF rebalancing happening for last couple of days. Lets see, tomorrow will be interesting. Most stocks have lost a lot so its not like it has shot up a lot.
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ASX U stocks had a good day today. Of the 28 stocks that I track, average gain was around 3%. So now we have had 3 straight green days - a rarity. But lot of buying in closing auction today and many stocks gained around 10%, except PDN among big stocks, may be ETF didn't need that.
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What next:
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SP 500 now sitting at a crucial level of 4109 - above 4100. The path is clear. SP 500 needs to hold 4100 - a dip to around 4080 may be fine but needs to stay in this zone if consolidating rather than falling below say 4000. If things go well, we could see it reach 4300/4350. ASX gained around 0.6% today - so followed US markets.
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Other thing to note is what I mentioned in the Weekly Report - rally is mainly led by big stocks. For the rally to continue, its important that risk-on assets also participate in the rally. they have not done so in the recent rise. So hopefully we see U & Li stocks make decent gains.
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Personally I am playing for a bounce with a number of stocks but watching closely. Still playing my one Oil/Gas stock - fortunately its on the rise in last few days.
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So what will happen tonight? US futures in slight red. Asian markets largely green. Some PMI data and Fed talk - this could give some twists as well. But overall technicals are looking very bullish. If there is no new bad news, markets will at least consolidate if not go up. It would be good to do consecutive 4100+ on SP 500 which will set the platform for rise in near term. Will that happen? Lets hope so. All the best.