It's a very sleepy day with no overnight leads and a market that has traded in a narrow range. My positions are little changed but I have some minor hopes in IPL. The presence of a big seller was pretty obvious yesterday but today there have been some crossings going through so the order might be coming to an end.
European and US indices look quite stretched. A couple of examples. First, the S&P 500.
Then the FTSE 100, also on a daily basis.
The HSI is less stretched.
The Shanghai index is showing signs of life, pushing through previous lows.
The Japanese indices are looking quite bullish, here's the TOPIX.
Given that the trend hasn't changed in Europe and the US and the Asian indices look pretty good, I'm reasonably confident that the Asx 200 is not headed for the trap door despite the fact that the action is wishy washy.
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