monday trading, page-8

Just an interesting point re the divergence between the OZ and US indices.....

The XJO has remained strong in the face of falling spx/dow as of late. The 55 dma for us indices are still falling and indices are somwhat below the line. However the XJO 55 dma over the last week has flattened out...not rising but just flat not falling. this is the first time since the may 08 rally that the xjo 55 has not been falling....BUT.....

the XJO rose to touch the line on friday and has fallen away today...classic bear resistance as described by Terry Laundry. If US indices and their associated 55s continue to wane then how long can the XJO hold out ?? and particularly as it is at key resistance.