Chart Watch 2009-03-03

 

 

 

 

 

   

 

XAO - All Ordinaries

 

The DOW slid to 12-year lows overnight to its first close below 7,000 since May 1997.  The All Ordinaries closed at down 32.4 points to 3171.4 , the lowest level since December 2003.

Two-thirds of the initial loss were regained after the the Reserve Bank of Australia (RBA) kept interest rates on hold at 3.25 per cent, a 45-year low.  Economists are predicting the RBA is leaving itself available to provide further cuts in the near future.

  

AMP - AMP

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Quick Trends

Symbol	Short Term (10MA)	Medium Term (50MA)	Long Term (200EMA)
XAO	Down	Neutral	Down
XDJ	Down	Down	Down
XEJ	Down	Neutral	Down
XFJ	Down	Down	Down
XHJ	Down	Up	Down
XIJ	Down	Up	Down
XMJ	Down	Neutral	Down
XTJ	Down	Neutral	Down
XUJ	Down	Down	Down

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Chart Watch 2009-03-02

 

 

XAO - All Ordinaries
The All Ordinaries closed down 96.4 points to

3200.5 (-2.92%), on news US the economy shrank at its fastest pace in more than a quarter of a century. 

The low for the day was 3190.7, the lowest level in 5 years.

The RBA board will hold its monthly meeting tomorrow, with some predictions of another 100 basis points cut.  Wednesday figures will be released showing if the Australia economy shrank or not in recent months.  The government is hoping the stimulus package in December and another looming in March will prevent a large contraction.

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