Hi guys and girls just pondering where to post this, its just a tad more from my thoughts of my last post, on where our market and pna is going. I guess I'll post it and hope one or two are interested and maybe get something from it.
Today XJO (Australia S&P/ASX 200)got to 4,955. now from a technical analysis point of view a 50% retractment point from its fall to hell to it high point is 4960 give and take a few points, so we are at a very important huge resistance point. IMO.
Where from here ? well although its a point to watch closely,(4960) I'm going to stick my hand up and say we will not fall hard just yet, and has I have posted already push on higher. Now that doesn't mean we not going to fall some days and have pull backs. I feel next few months 5,500 will be reached at least.
Even a full on bull market has dips and pull backs. Not saying for one min or even a second we have that now.. I believe and for reasons I've already stated the US is hell bent on pushing higher( at least short term ) there relentless printing of money, Zero interest rates, more stimulus money, propaganda spin mill working triple time etc etc will ensure this.. Can the US continual this well into 2010 I think I'll leave that all up to you to think about. I'm thinking about the next few months for now.
Odds on, we here in Aust are going to get another interest rate hike, because a few of us may have smiled to much again, or something silly like we advertising for more jobs of late. Plus most of us are still eating what more do we want.
DYOR please.
Regards Mx
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PNA Price at posting:
$3.18 Sentiment: Hold Disclosure: Held
