April 13, 2009
Easter Stock Market 2009
By Planet Wealth
This week was a small week on the XAO, with the Easter long weekend and an early close on Thursday.
In the news, the reserve bank dropped interest rates by 0.25% but banks are keeping most of it, ANZ only passing on 0.1%. This had not much affect on the charts. Looking at last weeks chart then to this week, you can see the market never really made any significant moves. The candle is a sideways go the XAO still sits under a major resistance line with it is still possible for a Double Top to form. Next week is another small week on the market, coming back after four days off. Will investors still be treading with caution, looking for direction from the DJI?
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