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1.Market Observations

21 Oct 2017 (AFR,SMH) – Shares extend rally to two weeks, closing above 5900

(21 October 2017, AFR, p33, Sarah Turner and Patrick Commins)

Weekly candlestick chart, May to October 2017 (Robert Brainy Brain)

Weekly candlestick chart, May to October 2017 (Robert Brainy Brain)

‘Australian shares clinched a two-week rally with another advance on Friday, with the benchmark top 200 index closing over the final session above 5900 for the first time since May. In the week’s final session the benchmark S&P/ASX 200 index advanced 10 points, or 0.2 per cent, to 5907, while the All Ordinaries rose 8 points, or 0.1 per cent, at 5968 and within a whisker of its post-GFC highs. The top 200 jumped 1.6 per cent over the five trading days, building on a 1.8 per cent gain in the prior week. Since the current rally kicked off on October 6, the benchmark measure has jumped close to 200 points, or 4.5 per cent.’


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