Chart, page-3688

A great day for sure but still a long way from a lot of readers averages I'll bet. We should be asking why the sudden rise in the sp? As a couple have said they soaked some up due to Daz's post and if you remember @stotes chart displayed a break out of the down chanel around 42. The market doesn't just wake up one day say hey this needs to go up. So why the sudden interest? Maybe
A) There is a news leak and something on the way. If so then the chart is predicting the future. Be wary of buy on rumour sell on fact.
B) The underlying fundamentals have improved in which case the chart is predicting the future and telling you this is the case otherwise how else would you know?
C) The supply has dried up and if this is the case then chart is again telling you this.
Or, god forbid , this is nothing more than a technical rebound. So everyone can thank the chartists for the 10% rise as they have jumped aboard.
My guess is that there was some good interest after Dazs post which chewed some overhang and attracted the technical traders after a 42 break. Long may it continue though and lets hope there is news now to back up this rise.  We are right on the dreaded 50 ma and IMO I will wait a little longer before adding any more. All IMO of course.