The real danger is the EW count.
If the 2007/9 decline was 1 or A, then the 2009/10 rally was 2 or B.
The Apr/May decline then 1 of 3 or C.
The rally into Jun 21 then 2 of 3 or C.
That makes the decline of the last week as part of 3 of 3 or 3 of C.
That is a dangerous place and the move can be persistent and often characterised by a large move in the centre.
If we get a 1 day jump I wll be adding more shorts.
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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 |