On the face of it, you have to say that todays action seems to resolve the case for the bulls. And it may well be true that the indexes are now in for a sustained rally to new highs. Certainly the flat topped expanding wedge is bearing fruit in a manner its pattern suggests, target spi 6375.
I'm not confident in the rally however. The speed of the appreciation to me simply means that the volatility continues. Volatility means greater ease of movement down as well as up. I'll trade it certainly, but invest more hardearned in stocks other than those I bought at the lows? ... I'll need more confirmation before I do that.
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Last
8,593.2 |
Change
3.900(0.05%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.1 | 8,610.0 | 8,550.2 |
| XJO (ASX) Chart |