retskas bear culling thursday, page-87

XJO (ASX200) +0.1%
XTL (Twenty Leaders) -0.0%
XFL (Fifty Leaders) -0.0%
XFJ (Financials) -0.0%
XMJ (Materials) +0.1%
Energy +0.8%
XSO (Small Ordinaries) +0.7%

Mainly flat. Energy and Small Ords bucked the trend. Volume was up marginally on the previous day.

INDICATORS:

RSI.9: 47.4. Needs to get above 50.
MACD Histogram. A smidgin below Zero. Neutral.
MACD. A smidgin below zero. Neutral
Stochastic: 27.1 and hooking up from the 20 area. Still below its signal line. Neutral
CCI.14: -17.4. Hooking up from below -100. The zero area is now the critical area for the CCI.
Marginally below the 13-Day M.A.

The market closed at 4188.4. The chart needs to get above horizontal resistance at 4300 and then the big blue oblique down trend line.

G7 finance ministers and central bankers meet this weekend to discuss measures to revive global growth. Looks to me like a clash of wills ? finance ministers in Europe and America have political pressure on them for austerity measures ? central bankers, being independent, will be more rational about what?s needed. Markets may mark time from now till some announcements come out of the G7 meeting. We could settle back a bit. If our market breaks below the 4080 area ? then we?ll probably see much lower prices. I doubt that will happen tomorrow.

Good luck
Redb