re: time to be diligent update Well..., the 61.8% levels seem to be holding - looking like bad news for the XFJ index if that trendline cracks this week! Looks to be less than 50 points away! A massive 131.50 point drop on Friday (-2.23%). Interest rate rises definately coming and insiders liquidating now???
Financials pulling back with materials already pulling back could put some serious pressure on our overall market. XMJ index already breaking trendlines and coming under heavy pressure. Base metals still at all time highs - but remember what happened recently with our last interest rate rise a few months ago!!?? This could all change very quickly. Oil high, base metals high > inflation > nice excuse for more rate hikes!
$USD looking stronger than usual, maybe gearing up for a temporary run north with the announcement of more US interest rate hikes????
Overall, just a deep correction in a larger bull, but a correction none the less! Time to be vigilant!
time to be diligent, page-2
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Last
7,782.1 |
Change
-13.900(0.18%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,796.0 | 7,796.1 | 7,777.2 |
| XJO (ASX) Chart |