redbacka's - what does that tell us - thursday, page-15

good morning fellow punters.....

XJO chart.....

Are the Bulls about to break free......

the last couple of days have me intrigued.....

we have had new lows on the index intraday....however...the end of day stats tell us there is some buying going on......4280.....is not going away easily......

we can see a pitchfork maybe in play.....and also the 50% level on the last little run up seems to be holding

we have had a false break yesterday...or so it seems... at this stage to the downside, and yesterdays closing auction was not conducive for the Bears to have any confidence......

the last corrective range was 76 points....and so far this time we have managed only 63 points.....

I am starting to get that Bullish feeling again

I would like to see 4200 tested before re-entering the index....however, I will keep the eyes and ears wide open.....

punting for pleasure and profit
sck