Dow Jones Industrial down modestly, -0.31%. It finished at 12069 after dipping marginally under 12000 in early afternoon trade. So - a good recovery. Dow Transport Index up +0.45%.The S&P 500 finished marginally down -0.1%. Nasdaq100 +0.54% and the Russell 2000 +0.57%.
So - breadth was good after the market recovered in afternoon trade.
France -0.09%, London -0.06%, Germany -0.89%. The German market was the odd man out today. There must have been some specific cause of that which I haven't been able to ascertain.
Gold in Ozzie Dollars fell heavily in late trade. Rumours were circulating that Gaddafi was dead and that took the risk premium out of the Gold market. The sign was on the wall in Australiayesterday when the Oz Gold price fell heavily during intra-day trading.
I think we can expect today to be up.
Will this be a proverbial "dead cat bounce"? Probably. I think enough technical damage has been done to the markets to suggest the probabilities next week lie to the down side.
But let's wait and see. A break below 4900 on the XAO would be bearish in the medium term.
Good luck
Red
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