Guest Posted July 7, 2004 Report Share Posted July 7, 2004 Big Bro did the right thing and sent us south at open. All Ords -0.2% and doing the bounce but I doubt whether we'll we see any meaningful upside today. The new all-time high of yesterday is now questionable as well. Golds are doing a small pullback, nothing serious. Oils still heading up, +1%. Asia not at all happy: Link to comment Share on other sites More sharing options...
Guest Posted July 7, 2004 Report Share Posted July 7, 2004 S&P Nazza Link to comment Share on other sites More sharing options...
Guest Posted July 7, 2004 Report Share Posted July 7, 2004 Australia's Reserve Bank Leaves Interest Rates On Hold CANBERRA, July 7 Asia Pulse - Home borrowers have been spared an interest rate rise after the Reserve Bank today announced interest rates would remain on hold for the seventh month in a row. The decision means the official cash rate will remain at 5.25 per cent for at least another month, translating to a standard mortgage interest rate of 7.05 per cent. Link to comment Share on other sites More sharing options...
Guest Posted July 7, 2004 Report Share Posted July 7, 2004 Well so much for downside. All Ords turned right around and went north giving us another record high. The index closed +8.4 (+0.2%) but I have to say the action was far from convincing, more of a dragging up rather than a bound. I mentioned a possible expanding formation on the daily chart a while back so we may challenge the upper boundary, a mere 5 points away. Golds varied: Newmont closed +0.4%, Lihir flat and Newcrest -1.5%. In the oils, Santos did a surge, +2% and Woodside closed +1.6%. Asia not performing that well with Nikkers down the most at -0.8%. Link to comment Share on other sites More sharing options...
The brown one Posted July 7, 2004 Report Share Posted July 7, 2004 AEX doing nothing much so far after 1.2% drubbing yesterday. Accordind to the EW guy,yd was wave 1 as part of wave 3 down.That bottomed at 335.Today we should go up in 2 of 3 but no further than 339.Then it's down in 3 of 3. How far?Dunno.Weekly stochastics is rolling over but the daily is close to a bottom. Mebbee it going down big time but 990N isn't finished yet. Link to comment Share on other sites More sharing options...
The brown one Posted July 7, 2004 Report Share Posted July 7, 2004 And at midday exactly--they all decided to take the money Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.