CDA: General Discussion, page-3

Yeah, I too am a little confused as to why the SP has declined so significantly. It can be partly explained by the overall general market downturn. On this note it is very difficult to have confidence about the market direction in 2023. Half the pundits talk about a major market correction happening in 2023 and the other half are very positive citing a final round of interest rate hikes and reducing inflation and roaring jobs market. I cannot help myself but to always fall on the more positive side of these forecasts (sometimes to my detriment), so I feel positive about 2023. I am sitting on an average of 6.55 and started buying at 7.24. I have a big chunk of cash sitting there to make my next buy but just waiting to see where it goes. It is interesting to see how we have been in this horizontal trend for that last 27 trading days. It is like a period of consolidation with low volumes. Checkout the bollinger since the 22 November. It is in a serious squeeze at the moment which likely indicates a breakout in either direction is coming soon. Trading Central nominate an alternative scenario all the way to 2.75 if it breaks their nominated pivot point of 3.52. In opposition to that scenario, we have buyers at a ratio of 3:1 to sellers with the RSI heading back toward overbought. Very confusing. My inclination is to wait and see how it plays out. If it gets to low 3s or just below 3 it is seriously cheap, and you would have to be confident in your buying at those level with a PE of 7.1. A breakout is coming people. Would be really interested to hear what others think. Which way is it going??