In order for the H &S to run its full course and complete the current "shoulder" whose development appears to be underway, we have to see a broad sell off in the top ten stocks....IE, the top 4 banks, RIO, NCP, TLS and BHP.
WHY?
Because their individual weighting in the XJO and XAO is SOOOOOO GREAT that no SIGNIFICANT rise or fall in our benchmark indicies can take place without the support of the majority of these stocks moving in the same direction.
So if the banks begin hitting resistance, begin shorting them along with the XJO through PUT warrants. If the banks break through resistance, then watchout!
chart/xao - head and shoulders, page-6
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Last
$65.27 |
Change
0.300(0.46%) |
Mkt cap ! $12.59B | |||
| Open | High | Low | Value | Volume |
| $65.47 | $65.80 | $65.04 | $2.486M | 37.97K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 172 | $65.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $65.27 | 18 | 1 |
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| Last trade - 10.30am 01/08/2024 (20 minute delay) ? |
| ASX (ASX) Chart |