XAO
On the daily chart 5200 is looking like a short term floor. Support at this level seems to quite strong. Some form of indicator divergence is forming. But whether it happens will depend on first day after the easter break. Let's see how it goes. There is also the risk of a large descending triangle forming. In that case a sharp drop of the index value is possible. And this downside risk can very well be the result of material sector having a sharp down turn.
The weekly chart still indicating the index has further to go. 5200 probably will not hold for too long. Closely watch the material sector performance as the heavy weights could be sold off as confidence in the China story wanes.
XPJ
The REIT sector has probably been the biggest victim of this credit crunch so far. It has been sold down badly since Centro and Allco sagas continues. However there is some signs of property trust sector is about to bottom. Both daily and weekly charts are showing indicator divergence. A possible end to further decline.
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