Market Wrap 21-10-11

By Jason Fittler

We are certainly at the cross road in the market at present.

I expect that we have seen the bottom for the market with the strong rebound as the start of October indicating that the Bulls are happy to buy between 3900 and 4150.

The question is can they keep it moving up.

The next couple of weeks will be the key, I will not be surprised to see the market pull back in the coming weeks but I do not expect it to break the 3900 level. As such those who are sitting on cash, now is a good time to look at getting the funds into the market place.

We called the market at 4500 around December; it would appear that this is now the common call across the market.

I will continue to buy for income and hold for the long-term growth. 

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