I am not a financial adviser so you should not take any part of this blog as being financial advice. Observing and interpreting charts is a hobby and so is this blog. The information in this blog is just my opinion, it may not reflect reality. Stock market investing is risky - you can lose all, or potentially more than all of your money given certain market conditions. Not only can you lose a lot of money buying shares, you can also lose a lot of potential profits by selling shares at the wrong time. So please do not buy or sell shares because of information in this blog. Whether you buy or sell shares is your decision as is the decision when to buy and sell. Do not risk any money you cannot afford to lose. Do not risk any money if you do not fully know and understand what you are doing.

Thursday, April 21, 2011

All Ords follows through

That was good follow through by the market today. I am particulary encouraged by the 'gap up' on the open and the gap then holding. At this stage we can expect the market to surpass the recent high at 5070 with the minimum target around 5280. There could be a test of sorts at about 5120.  Keep an eye on yesterday's high (4940). If the market were to 'close the gap' between yesterday's high and today's low, that would be the first sign that things are not as rosy as they currently appear to be.

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