Australian Cash Weekly charts
Currently Range bound this Quarter trading below the breakout of June's lows, and at this stage there is an expectation that in 2008 prices will move lower before they bottom out....
Commodity prices are moving lower, which are weighing heavily on our Resource stocks, even though BHP will announce a record profit next week...
SPI WeeklyFuturesMarkets have stabilised and have moved into a sideways pattern, underpinned by US markets moving higher and reporting season.
BHP reporting on Monday and some financial stocks reporting this month supporting the market.
SPI DailyWe can see how congested the market is this month, and at this stage I can't see any difference next week.
Next Week:- Range bound which will be heavily influnced by US markets, but Monday should be driven by the market's reaction to BHP record profit announcement.
Any new down trend won't occur until US markets lead..... (Read US Weekly Report) , and dragged down by Financials to bottom out the market.
