Hi Scoop,
No, APT will not likely dive after Senate..
What I'm saying is that I'm on the side of caution this time as the macros could be used by big boys to do a forced double bottom. That's why I'm not adding to my position this time...just waiting for confirmation.
I'm on the sideline, watching what will happen today (tonight) with the S&P 500 after Trump's SOUA..before I top-up (above $17.02 if a bull run is on..., below $14.50 if a forced double bottom occurs).
APT just punched above the 61.8% Fib level.... but could well be a short squeeze, then a forced dive...prior to a bull run days prior to Senate (Feb22) and H1FY19(Feb26).
The ASX200 is just well above the 200MA, from yesterdays Royal Commission.But I think that rally was shorts covering, likely hedge funds playing with bank and financial services stocks. ASX200 needs to hold and go another 2 days of green to be well above that line...
Here's the catalyst for a possible forced double bottom...Trump's mouth.
S&P500 still under 200MA, and at 61.8% Fib...Same with Nasdaq, just under 200MA and at 61.8% Fib...
Caution....zones
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