Market Summary
The general market was up strongly early in the week to fade over the last two days. The XAO was up +2.57% on the week. Thursday saw a remarkable reversal day to the downside and this weakness carried through to Friday.
The XAO is above a rising 13-Day Exponential Moving Average. All ten SP Industry Sectors were up.
Best Three Sectors:
Information Technology: +6.26%
Materials: +4.04%
Consumer Discretionary: +3.61%
Worst Three:
Financials: 1.63%
Health: 1.52%%
Utilities: +1.51%%
Among the sub-sectors: Property Trusts up strongly, 4.24%; Metals and Mining, +4.09%; and Small Ordinaries, +3.53%. The 50 Leaders under performed the XAO at +2.3% and performed less well than the Small Ordinaries. Risk Aversion/Risk Inclination was weighted to Risk Inclination on that measure. Gold Mining was up at +2.4%.
Long Term Trend
The long-term trend is determined by the 13-Day SMA and the 150-Day SMA. It is currently positive.
CONCLUSION: LONG TERM INDICATORS ARE GIVING A “HOLD” SIGNAL.
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