ASX 200 technical analysis:

The daily chart shows that the ASX 200 futures market remains in its uptrend, and is more or less respecting trend support. Although its friendship it being tested more and more frequently at these highs. And with the potential for US CPI to remain elevated and Wall Street hesitant to rally ahead of key earnings reports, I remain doubtful as to whether the ASX can now simply break to a new record high.

Today’s bias is simply to fade into moves around the 7900-7920 resistance zone and target either trend support or yesterday’s low.