The announcement of the death of Osama Bin Laden resulted in a reaction rally on the Australian market. The XJO finished flat after being down about 1% earlier in the day.
So - is that it for this retracement?
Here are some sobering internal statistics for today:
- Advance/Decline Ratio 0.54
- Advance/Decline Ratio for the 50 Leaders 0.75
- Small Ordinaries -0.8%
The rebound from the lows today was carried by a relatively small number of shares. That's not really a confidence builder.
Let's see how the next day pans out.
It was my younger grand-daughter's second birthday today. She was two. So I've been a little busy. That's the reason for the somewhat shorter blog tonight.
Good luck
Red
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