Some might find this useful, it is an hourly chart including yesterday and up unitl 1-2PM period today (see arrow for start of today) A few points to note...
1. The volume in the first hour today (ASX only) 738K which is higher than yesterday 612K. Suggesting that there were some sellers, probably mostly end of day holders from yesterday playing catchup.
2. Volumes have fallen away since.
3. The SP has formed an intraday low double bottom with a dragonfly Doji suggesting a possible bottom reversal, i.e. a bullish tendency. - hourly MACD has ticked up
The action could change as the day progresses and it will be interesting to see if volumes pick up toward the close. It would be nice to think this was signalling an exhaustion move. Maybe the sellers have run out of puff.
If nobody is interested I won't add to the torment - tell me - but it is worth looking at hourly charts as the market evolves in times like this.
Hourly snapshot 1-2PM
TA discussion, page-4821
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