Pivot Point 5256. Market looking to open down 40pts at 5237 with Asia down 1% and USA ending down 0.3%. Daily range has been 81pts on average over the last 10 trading days. GDP figures for Q4 2009 were disappointing at 0.1%. Support at 5195, 5215, 5235. Resistance at 5253, 5260 and 5284. Trading range today 5200-5290. Long entry around 5220. Markets are reaching over sold levels. Looking for a bounce by Friday with the release of the USA Q4 GDP figures.
Australia ASX200 (4644) down 73pts -1.5%. Resistance 4860
Japan Nikkei 225 (10252) down 73pts -0.7% Resistance @ 10700Shanghai Composite (2986) down 33pts -1.1%. Support @ 3000
USA S&P500 (1092) down 4pts -0.3% Support @ 1080
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