Friday , on our side of the world - the nicki and the hangseng composite both dropped a touch, however they are both are in strong upward trend, while our index dropped 1.3% ..... All of this was following on from the 2% fall on wall street the previous night..... Last night, on the other side of the world - the DAX fell 2% on top of the 2% it fell the previous night...... And also last night, on wall street - the S&P 500 fell 0.3 % on top of the previous night; 2%... The DAX - is in downward trend, falling off the edge of a cliff over the last 2 days The S&P 500 - has crashed though its 2 month upward trending trading band, also, falling off the edge of a cliff over the last 2 days, but not quite as far last night as in Europe.....the S&P500 still fits neatly into a longer 11 month trading band - sitting at the bottom...... it has just a touch further to go to match the extent of the correction in january / february this year....
An observation from this tiny example is that the aussie market might be influenced about two thirds by the US market and one third by asian markets......so my guess is that our market on Monday is not going to be as devastated as it was yesterday - maybe a drop of 0.3%, and be well inside its 2 month upward trending trading band by tomorrow evening ......
After that - i have no idea at all...
That’s” what i think i see, but that is also what “i would like to see”- because on Friday i bought quite a lot of small parcels of longs..... am i kidding myself ?????
