Spot on Treggs imo!
If the current support won't hold next stop might be the trend-line from October 2002 at 12045 and maybe then 38.2% retracement @ 11520, which co-incides roughly with your 200 week SMA.
My money is on a breach and a fall to at least the trendline. Why?
1. The SP500 has repeatedly breached its trendlines and support over the past few months - the bull market looks over for it - can't easily find a place to draw an uptrend.
2. The DJIA has made its first meaningful lower high for 2 1/2 years and if it retreats to the trendline will make a lower low as well.
3. Sentiment is shot - hard to find any good news at the moment.
All points to a great buying opportunity coming up and great shorting in the meantime.
-HBG
- Forums
- ASX - By Stock
- XJO
- bulls returning enmasse
bulls returning enmasse, page-8
-
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,283.2 |
Change
-72.700(0.87%) |
Mkt cap ! n/a |
Open | High | Low |
8,355.9 | 8,355.9 | 8,261.5 |
Featured News
XJO (ASX) Chart |