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In America:

Dow Industrials+0.27%
Dow Transports -0.06%
SP500 +0.31%
Russell 2000 +1.05%
Nasdaq100 -0.11%

Comment: Dow 30 and SP500 were both up modestly. Nasdaq100 down just a little. (Apple lost a little ground again). The Dow 30 and SP500 were down in early trade but recovered to finish positively.

NewHighs/NewLows 61/10. NH>NL. The ratio of NH/(NH+NL) is at 85.9%. Back in the Do Not Sell Zone above 80%.

Technical Comment on the Dow 30:

The Dow finished at 13080.7. Marginallly above support (13058) and 18-Day Ma (13061)
Indicators:
Stochastic: 63. Below its signal line. Negative
RSI.9 is at 51.6. Above 50. Positive.
MACD Histogram. Below zero. Negative.
MACD. Marginally below zero. Neutral.
CCI.14: -0.4. At the zero line. Neutral.

The short term trend is down. The long term trend is still up. The Dow 30 held at its support area. It needs a solid up day for the bulls to maintain optimism. But, nothing in last night to despair the bears.

Yesterday, in Australia, we had a nice reversal day (down then up) to finish flat. Some ambiguity in the day – Defensives were still strong and Small Ords weak. To see Small Ords weak on such a reversal day is unusual.

Weekend Report should be out tomorrow.

Redbacka