of iron ore and bacon & eggs tuesday, page-3

Jeepers - Great.

America closed for Labor Day

In Europe:

E100 - FTSE Euro Top 100 +0.86%
France CAC 40 +1.19%
Germany DAX +0.63%
London FTSE 100 0.82%

Europe markets were generally strong last night. In the case of France, very strong.

?Technical comment on the E100 - Euro Top 100.

MACD Histogram: Above zero. Positive
MACD: Below zero. Negative
RSI.9. Above 50. Positive.
Stochastic: 22.7. Above 20 and its signal line. Positive.
CCI.20. -88.7. Rising above -100. Positive.

Medium term trend is up. Short term trend is up. 10-Day EMA above the 20-Day EMA: Positive.

The Index broke above the short term down trend line and all indicators (except MACD) have turned positive. That's a short term simple "buy" signal.

Gold in Oz Dollars was up +0.5% in the past 24 hours. BHP in London was up 1.03%.

AUD/GBP last 24 hours: high - .6488, low - .6422. Currently, big/ask 0.6449/0.6453. So our currency is at the low end of the range - but the change has been marginal.

I said in last night's report, we could expect a short term rise in Australia. Nothing in last night's action changes that opinion.

Redbacka.