I see the index price on IG was as low as 5525 this morning - it...

I see the index price on IG was as low as 5525 this morning - it seems the XJO is currently performing as well as our Ashes team!

Casual Investor, while the short term view a couple of weeks ago was generally turning bullish (except for Martis), if you had followed the daily commentary here you would know that caution clearly crept into the discussion earlier this week as the inde hit its head against the ceiling just above 5700, and short term direction was always going to receive its cue from corporate reports staring to flow this week. Every day we look not only for signals but also for confirmation of signals - market analysis is not an exact science (not even insto's have a 100% track record, which is why most super funds are only tracking at just over 10% atm (and -ve during the GFC)) - so the key to trading/investing is not only the analysis to determine the balance of probabilities for market direction but then also how you manage your trades (i.e. manage the risk, given the science is not 100%) based on imperfect information.

Cheers, Sharks.