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ClarkKent

10,268 Posts.

126

14/04/23

18:51

Post #: 67284065
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Originally posted by TheFadz: ↑

We're a day late
7360 still the fence atm & we should've jumped it to go for the 7420/7400 last night
We should go for it today

Today I'll expect 7330 to be used as a backtest
Pretend that 7360 is a fence so hold up there for a bit
Profit take for end of week etc
Then go for 7400 by the end of the day (7420 at the open if I'm wrong & it runs early)

That fence still isn't market top (I'm using 7530 at end of month as market top for now & see how weak it looks from the first pullback. We could still do something tricky with a pump in early may before it starts to sell for June lows. But i'll assess later as we get closer. We still have option expiry next week but we could get to 7500 & still stay in our current trading range grind)

Also, bulls still haven't lost a fence since this all started

PPI last night was well under, so once again I now expect cpi to also be under for next print
Interest rates might be dropping by the end of the year, earlier than expected

Ftse, Spx & DJ all made new highs this week
Small caps/nasdaq just short
Xjo in last place again playing catchup (then again we did sell off quite a bit with the last drop & will take us longer to recover)

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"fence"

You got more fences than Bunnings old mate Fadzy.

XJO Value at posting: 7,361.6
2 Upvote

0 Great analysis

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