A big night up.
It looks like a break away for our local market but US markets and commodities look a bit scary and blowing off to me. Look at silver. Yikes!
So is this a 3rd of a 3rd centre or a top? Laundry would say a top due any day here but....
For the US markets I mentioned a long term trend line at Dow 11630, that is now just a good day a way.
SPX inverse H&S targets 1250.
Beyond that is maybe what our mate Oscar sees.
He claims to predicted the 2007 top to within 1 pt and the 2009 low to within 2 pts.
His target this year is SPX 1290-1300 although I thought he once has 1290-1320!
At this rate we will be there next week, lol.
If that is the high for the year then you would think the lower targets might be the pause and correction before a Santa rally to finish.
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| XJO (ASX) Chart |