澳洲股指 - 技术分析(08/03/2008)

The ASX declined below 5400 level this week. The ASX was largely dogged by bad news from both overseas and locally. More worries about credit crunch and failing of some previous darlings of the market.
Short term support for All Ords (XAO) is around 5300. Although I think it is far from the bottom.
Until we see certainty in the money/credit market, there will continue to be risk for further fall for ASX.
If the Chinese economy is to slow, the mining stocks will feel the pressure. It's a very real possibility now.


On the weekly chart money flow and MACD indicators continue to decline. Further falls are expected.





Conclusion:
More drop to come. Stay clear of financial sector and any highly geared businesses.
Don't be greedy and take profits often and cut losses quickly.