Thursday ASX Update
August 24, 2006 3:37 a.m. ET (5:37 p.m. AET)
The All Ordinaries fell back sharply through the new support level at 5000 on strong volume, with weak closes on Monday [M] and Wednesday [W] warning of resistance. Expect some support at 4900, but the breakout reversal is likely to elicit a strong bear reaction -- and a test of primary support at 4800. Twiggs Money Flow (21-day) is close to zero, signaling uncertainty.