So when did the SPI ever have this big a discount on an up day?
On a percentage basis, never in the last 20 years or more.
Now I can appreciate that markets are at important resistance, but this amount of SPI pessimism on an up day is amazing.
It seems that they are all confident that down is assured.
Considering the discount is 65 pts, they need it to be big for a start.
The record of the SPI is woeful and to see this on an up day and close to a breakout is one of the greatest potential buy signals I have seen.
Keep in mind that weekly MACD is now as low as it ever got in 2002/3.
There are no guarantees just odds.
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Last
8,556.6 |
Change
-73.700(0.85%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,554.8 |
| XJO (ASX) Chart |