Its a conundrum!
I feel the US is a short but locally more bullish.
The first chart has the average year for XAO since 1983 as finishing a dangerous down time and we have just consolidated so upside may now be posiible. Sure you can take 2007 and say Nov 1 was the start of a bear, I know.
The next two charts are my favourites for SPX and the message is mixed.
The summation index seems to be bearish. It had a little down move, then sideways, but now down again, for the first genuine sell signal for a long time.
However it is yet to be matched with a sell signal from the bullish percent chart. IF that crosses down then sell or be damned.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
8,570.4 |
Change
-9.700(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,580.1 | 8,593.6 | 8,558.3 |
| XJO (ASX) Chart |