I note on CMC daily charts that MACD on SPX is higher than ever which means back to the 2003 lows.
Since a bear market preceded that then it is probably at least 10 years since such highs.
Is that bearish? I don't think so.
It may be in the short term but suggests the normal super overbought initiation stage of a bull.
I will look at a decent chart shortly to see what it shows and when I say a bull then some would say we already are in one. So not saying new highs.
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Last
8,561.8 |
Change
-68.500(0.79%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |