The Market Wrap Friday 28th August 2009

By Jason Fittler

4800 is looking more likely.
As much as I continue to look for a pull back in our market it is becoming increasingly obvious this may in fact not happen, or if it does it will not be as far as I had expected.

If we focus on the short term
, over the next 6 months I do not expect to see interest rates rise, inflation will be contained and the Blue Chip companies are expecting to maintain current dividend levels.

When you put all this together it would appear that the market will continue to hold and I expect strengthen into this period. It is now looking like 4800 is very achievable in the short term.

Long term there are still head winds so lets not get ahead of ourselves, for now I am looking to ride the bull rally, I will look to take profits when this rally is coming to an end.