yeah BIO I agree, but you have to admit, you couldn't have forseen this move.
Took us 2 weeks to get xjo from 3950 back down to low 3700s, and 2 days to get it all back. If you had been short from 3950, and waiting 2 weeks for a payoff (like I have), you would never expect the market to run 5% in 2 days. Especially since it started from literally Monday night, after Asia got absolutely hammered.
The size and strength of the move tells me there is a bit more to just your standard "1 week bounce".
While I agree you could look to short towards the end, I don't know if you want to be short a market that can retrace 100% of its movement downward in 2 days.
Much better in the SPX I think.
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Last
8,757.2 |
Change
118.200(1.37%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,639.0 | 8,776.4 | 8,639.0 |
| XJO (ASX) Chart |