ASX Morning call 12 Nov

Fridays plan was to sell any strength and delivered soon after the open hitting Thursday's high area and failed then failed again closing the unfilled extreme gap at 5893 and bounced. The afternoon saw some dividend buying coming through into the auction which would have been a great trade but I was out.

Today we are extreme gap down below Friday's low I expect that to fill today. S3 is down at 5846 and will be a buy for 10-15 points. There is another 10+ divi adjustment today so I would expect some buying into the close like Friday but I am going to out in the afternoon. 3 of the 4 banks are all ex-divi now so should start to see some weakness in the banks.

Todays plan is to look at selling Friday's close 5907 of 10-15 points. I hope it gets up there quick. Maybe look for a reversal from S3 if it gets down there in the first hour of trade.

The daily looks like momentum is turning positive. I put some lines on to show where price is and where I want to sell. The close on my chart has been adjusted for the dividend that was 12 or so points. Its less likely 5921 will trade. I dont really know anything about that indicator down the bottom but is a custom momentum indicator that someone coded and I just liked the look of it and could not find indicators I use on Trading view. Lets see if that turns red again and if price starts to move down after it goes from green to red.