Happy to see that the ASI is trending

There were 17 market days in the month of July 2016. The ASI opened the month at 6254 points and closed at 6393 points. An increase of 139 points for the month. This is a move of 8 points per day. Which is much slower than the beginning of the month when it was trending more than 20 points per day.

The trend expanded a bit aggressively today the 1st of August '16. The leaders were mostly the heavy weights in the Market such as COMB, TJL, LLUB, JKH etc. Based on the momentum we could expect the market to gather strength and push forward the bulls a while longer.

It is encouraging to see that the 1000 day moving average is positioning as a major support level at present. Although the market is in an upper trajectory we need to see more strength and activity helping this.