The weekend is here again,and a long weekend in Vic, SA, Tas &...

The weekend is here again,
and a long weekend in Vic, SA, Tas & ACT.

Although the ASX IS Open on Monday, it may be a little quiet.

The XJO was up a little on Friday, as expected.
Spread was narrow & it closed on its day high with quite low volume.
There was a distinct lack of demand on Friday & the Index probably only rose due to the lack of selling pressure seen recently.
It really just floated up with no 'oomph' behind it.
However it did exceed both of the recent highs (Oct 2013 & Feb 2014).
Although Fridays bar was potentially a little weak, with no other signs of weakness immediately behind it, we'll give it the benefit of the doubt.

It is also worth noting there is a (possibly) important monthly line coming through @ 5483.
The previous two monthly lines that have come through have played their part in shaping the market, so no reason to expect this one wont have any bearing.

hava good weekend.


cheers