[Nick1984]

The ES chart from the 18th was a fantastic chart to look at for our local ASX index cause following the awesome 4+% rise following the fed it was a no brainer to immediately go long on our own markets (I did with shares though) and our markets had the biggest one day rise all year on very healthy volume! A very profitable day.

A few people at the office reckon that the US interest rate cut may signal a turn around in market confidence here in Aus but i still think we have a lot to go to get out of the woods. I'd like to see the ES back above 1400 in the near term future to settle my own mind about whether we'll be back on the way up. Somehow I can't see that happening for a long time.