Sycom trading range on Friday night is 2992 to 3012 and closed at 3003. It's good to see the low range was above 2991. Monday session could likely be open weak and slowly recover toward the close with range between 2991 to 3018. Stochastic shown short term up trend (warning - my short term is 2 to 3 days).
The Dow close up with a small gains is quite positive consider the big move on Thursday and Friday session coming into the weekend. Bonds market got hits after US data showing sign of higher than expect inflation. This is good for the market but might not be good for the banks once they have their run up with the rest of the market.
My stocks pick are cyclical stocks such as BHP, RIO, and NCP. I won't be surprise to see NAB recover most of their ex-dividend gain on Monday. Banks stock are known to do so everytime they gone ex-dividend. NAB buy back should keep it above $32 easily.
Of course any thing can happens with Iraq/terrosist factors but the fundamental signs of the US economy are looking promising.
This is just my opinions, if you can gain from it then good luck, but don't criticise or blame me for it.
Happy punting.
SPI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
