Nothing much to say today. A small drop in the XAO kept the market in the sideways consolidation its been in for over two weeks.
With Thanksgiving in America, we're unlikely to see any dramatic news from there to change market direction.
Gold in Ozzie Dollars continues to power upwards. This is a concern for the wider market. It is unusual to find gold (in Ozzie) and our market also going up.
Other concerns are the Japanese market which has dipped into bear market territory. Also, the American 10-Year Bond Yield, after showing some strength, has adopted a bearish downward slant.
Although it has been widely reported that the American Dollar has plumbed new lows, our Dollar is still well below new highs. So don't be seduced into thinking that a very significant fall in the American Dollar translates into a positive for our market.
To sum up - our market as gauged by the XAO continues in a sideways consolidation. Until it breaks from that consolidation, patience is required.
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