The American market had a good night last night, nothing startling, but solid. The SP500 was up 0.78% while the Nasdaq Composite was up 0.67%,There's nothing in that to suggest that the Australian market will break from its six day trading range of 4800-4850.
Our market is still held under resistance of 4850 and the middle tyne of the Andrews Pitchfork.
Some divergence appears between the MACD Histogram and the Index chart - but it's not serious yet.
It looks like more sideways consolidation today.
I won't be surprised to see another reversal day today after an initial run-up.
Cheers
Red
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