Chart Watch 2008-12-03

XJO - ASX 200



After a good lead from the US (DOW, S&P 500 and NASDAQ all up over 3%) ended the day flat, but not before riding the
days roller coaster. High of 3621 on open, low of 3499 just before lunch, back up to 3605 a couple hours before close
to finally finish at 3533.

Chart mainly un-changed with what looks like a new swing low after failing to breach the 50% retracement mark.

Stocks to watch on close


Trends*
Long Term - Down
Intermediate - Down
Short Term - Neutral

*10MA, 30EMA and 200MA used to determine trends

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Chart Watch 2008-11-30

XJO - ASX 200



XAO - ALL ORDINARIES



The XJO closed 3742, above the low of the 28/11 of 3724, but still below the 50% retracement of 3777. The story of the XAO with a close of 3672 shows a similar story but below the 28/11 low of 3693 and 3760 50% retracement.

The market will test this area, probably on Monday after a strong close of the week for the DOW and S&P 500 (NASDAQ flat). Respect of this level(s) will indicate the continuation of the down swing.

BHP - BHP Billiton



A great week for the bug Aussie, approaching the $31.00 mark with volume. Still in a short term, medium term and long term until proven otherwise.

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