Lethargy seems an apt description for the moment. Many were...

Lethargy seems an apt description for the moment. Many were pushing management (including me) to curtail the ad hoc announcements or at least to limit them to the more significant events.

The SP drift has been in train approaching 4 months now and I think as much as anything it is the reason that the commentary has dried up, there isn't a lot to say that hasn't been said already. The average daily range is down to 2 cents with the bulls and bears comatose as supply and demand are pretty much stalled. Volume has been drifting down over the past week or so. The 50 day MA is sitting sideways right on the price action around 52 cents.

I think the market is playing a big part in this, it was looking a bit toppy and has been correcting for about the last 6 weeks or so, it is obvious in the charts. The financials and resources have been under presure and collectively make up a big chunk of the market and when they struggle it doesn't do a lot for overall morale and momentum.

Much of the AJXrecent  price action seems short term bot related with the odd larger parcel hitting either side from time to time. The morning action tends to be biased toward the bears but there are often bursts of accumulative activity later in the day which so far has kept the SP from drifting out of the this zone around 52 cents.

Normally a long period of consolidation like this cleans out the last of the traders and wavering holders and the odds of a breakout increase as the pressure builds. Something like 25 or 30 million stocks have changed hands over the few months of this sideways  period and it would be interesting to see if the register breakdown  has changed. Has the buying been random or are the instiutions substantially taking low key advantage of the circumstances  to pick up some cheap supply?

Anyway here is the daily chart of the past 5 months showing successive Dojis at this point in the early afternoon with the main sideways period highlighted. Normally Doji strings are the product of stalemates and often seen as indication of bullish potential - I wish.

Daily snapshot at 52 cents