snippets - 06/11/09, page-29

Bit of a nothing day today. Opened up about 20 points, long sideways drift all day, closed up about 20 points.

The market continued into overbought territory with 92% of the 50 Leaders above the 10-Day Moving Average. This is now above the level it was at in the middle of October when the market sold off.

A little risk aversion evident today with the 50 Leaders up +0.5% marginally better than the Small Ordinaries at +0.4%, but nothing much in it.

Will it sell off tomorrow? Dunno - but the odds are higher now than on any of the previous three days.



Cheers
Red