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IDS World Markets Fri 6th August 04


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t?s=^AORD

 

Well you'd think with Big Bro's spectacular fall we would have bitten the dust but no way Jose, All Ords down a mere 0.2% on very ordinary volume. Part of the problem is we're lurking in a support area on the daily chart so a decisive break is needed.

 

Golds mixed and oils green.

 

Asia doing the crap & gap:

 

t?s=^N225

 

t?s=^KS11

 

t?s=^STI

 

t?s=^TWII

 

t?s=^SSEC

 

t?s=^HSI

 

t?s=^BSESN

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A late day rally left All Ords -0.2%, off the lows but the action looked fairly bearish plus the index closed neither here nor there as far as support goes. I suspect more downside to come before we get a bounce...

 

Golds took a tumble, down around 1% but the oils maintained their green with Woodside closing +1.9%.

 

Asia a sea of red with Sth Korea in the lead, -1.3%.

 

Reckon Europe will see a selloff as well:

 

t?s=^FTSE

 

t?s=^GDAXI

 

t?s=^FCHI

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