It has been awhile since blog central had a look at the All Ords and its staggering lack of ability to go anywhere. The full extent of the rubbish nature of the local market at present can be seen below when the performance is compared to the S&P 500 and NASDAQ 100.
This lack of movement becomes more apparent when we chart price movement on a weekly basis.
The current consolidation sits within a much broader malaise that saw the market fail to puncture 6000 earlier in the year.
From a trading perspective there is very little on offer when the index is simply drifting sideways. However, there is always a silver lining to these things in that the longer this compression continues the more interesting the breakout will be.