Another usual ASX Monday bluesYes MLS lost 3 pips to finish on...

Another usual ASX Monday blues

Yes MLS lost 3 pips to finish on 5.1c. Our volume today was on higher side, over 6.3m shares traded. No announcement but no panic sell as well, good to be in 5s before next move.

ASX U stocks overall had a slight decline. Of 54 stocks that I track, average loss was 1.5%.


What next -

Covered most of the things in weekly report so will keep it short. Today's trading on ASX was not surprising. Nearly 80% of Mondays is always tentative which leads to slight decline - so it was just another Monday.

Tonight, SP 500 is sitting in middle zone between 3900 and 4000. If going up, we have to cross 4000 and then reach around 4070 which is 200 day moving average. In August when we reached the high, we got very close to 200 dma but were not able to take it out - then there was a decline which took us down till 3500 on SP 500. So that zone is critical. Many feel and as I have been writing as well, there is a good chance an attempt will be made there - not sure whether it will be tonight or whether it will be overcome. Down side, we need to hold 3900 which we did the whole of last week. Not much economic data, but leading up to Thanksgiving is usually a happy time, so there is a chance of up play though US Futures are down slightly at this stage. Will that happen? Lets hope so. All the best.