SPX last night double topped (within 8 points) with May 19, 2008 high. That was one trading day after BHP here hit its alltime high and began a nasty slide.
I'm always wary of double tops. A time to sell and reassess later.
Certainly our market this morning faded faster than designer jeans.
CBA is farily deep in the red on what should be a big up day, finding resistance at the 20/50 sma intersection.
SPX weekly and CBA daily charts:
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Last
8,595.8 |
Change
-1.900(0.02%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,597.5 | 8,623.6 | 8,543.2 |
| XJO (ASX) Chart |