{"id":63101,"date":"2014-02-04T17:24:10","date_gmt":"2014-02-04T06:24:10","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2014\/02\/04\/australian-stocks-what-happened-today-247\/"},"modified":"2014-02-04T17:24:10","modified_gmt":"2014-02-04T06:24:10","slug":"australian-stocks-what-happened-today-247","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2014\/02\/04\/australian-stocks-what-happened-today-247\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

ASX Top Gainers & Losers plus Market Snapshot – 04 February 2014<\/strong><\/p>\n

Cold weather casts a dark shadow over US markets overnight with ISM manufacturing data heading decidedly lower plus the RBA decides to keep rates on hold at 2.5%, very much in line with analysts’ predictions.<\/p>\n

What are traders talking about today? <\/p>\n

S&P\/ASX200 lost 90.8 points or -1.75% on volume of $6 billion, closing at 5097.1.<\/p>\n

The Dow Jones index was down 326 points or 2.08%, clearly breaking the 15,500 level and the Nasdaq index was down 106.9 points or 2.61% and breaking the 4,000 mark for the first time since mid-December.<\/p>\n

Spot Gold was up over $20 per ounce, closing just under the $1260 per ounce mark.<\/p>\n

Copper had its 9th consecutive losing day with support at the 3.20 level being broken for the first time since the start of December.<\/p>\n

The Nikkei continues to lose ground with support at 14000 a critical level going forward.<\/p>\n

Economic news<\/strong><\/p>\n

The Reserve Bank of Australia (RBA) decided to keep rates on hold at 2.5% as predicted by the majority of analysts.
\nJanuary ISM manufacturing PMI came lower with a reading of 51.3, which is the lowest figure since May and shows a fall from December, which saw it hit 56.5. This subsequently sent the US markets into a tailspin with the Dow Jones falling over 300 points.
\nThe Australian Finance Group (AFG) released the mortgage application data for January, showing a 13% decline from the previous month.<\/p>\n

Australian sector watch<\/strong><\/p>\n

\"\"<\/strong><\/p>\n

Looking over the charts<\/strong><\/p>\n

The ASX\/S&P200 blew through the 5145 support line and even took out the 5095-5100 support level at the same time. It’s been a tough day in the markets with around $25 billion wiped off our major index.
\nThe bullish divergence pattern on the cash chart is still in play as the market continues lower whilst the stochastic indicator shows a potential higher low (not shown on the chart below).
\nThere is potentially a base around the 5100 support level and markets will have to hold this level for a chance of a rebound.
\nMomentum is clearly to the downside with a continued big week of economic announcements out of the US, Europe and locally here in Australia. Expect the volatility to continue.<\/p>\n<\/div>\n

\"\"]<\/div>\n
 <\/div>\n
\n

ASX top 200 stock analysis<\/strong><\/p>\n

50% of stocks are showing oversold levels, 7% are showing overbought levels and 30% of stocks are currently above their long term moving average as of close of trading today. View the image below to better understand overbought and oversold levels.<\/p>\n

\"\"<\/p>\n

S&P\/ASX 200 Gainers and Losers<\/strong><\/p>\n

Top 5 gainers:<\/strong><\/p>\n

REA        REA GROUP +4.99%
\nNCM      NEWCREST MINING +4.74%
\nEVN       EVOLUTION MINING +4.07%
\nRSG        RESOLUTE MINING +1.96%
\nSIR          SIRIUS RESOURCES NL +1.90%<\/p>\n

Top 5 Losers:<\/strong><\/p>\n

ACR        ACRUX -10.34%
\nEWC       ENERGY WORLD CORPORATION -9.72%
\nMGX      MOUNT GIBSON IRON -6.60%
\nTEN        TEN NETWORK HOLDINGS -5.41%
\nMND     MONADELPHOUS GROUP -5.35%<\/p>\n<\/div>\n

 <\/div>\n
Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/div>\n
 <\/div>\n
Author's Disclaimer:<\/em><\/div>\n
\n
\n

CFDs are high risk derivative products and may not be suitable for all investors. You can lose more than your initial deposit and there is a credit risk. Please read the PDS on our website at invast.com.au<\/a> and decide whether CFD trading meets your investment objectives, needs and situation before trading. We recommend you seek independent advice.<\/em><\/p>\n

Invast Financial Services (ABN: 48 162 400 035) is regulated by ASIC (AFSL No. 438 283)<\/em><\/p>\n<\/div>\n<\/div>\n

\"\"<\/p>\n

\nTechnical limitations<\/strong><\/em><\/p>\n

If you are reading this story through a third party distribution channel and you cannot see charts referred to<\/em>, we apologise, but technical limitations are to blame.<\/em><\/strong><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/63101"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=63101"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/63101\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=63101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=63101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=63101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}