Just finished my EOD anaysis and today just holds onto the bull by the skin of its teeth.
Many indicators have turned bearish and if tomorrow is down then probably they all will be.
On an XJO or even SPI chart it suggests a low lower than today is a breakdown of the triangle of the last couple of months.
SPI did fill a lower gap today and bounced so that is constructive in a minor way.
The chart below is CMC but conventional charts also have today touching and holding the parallel lower channel line of this year's rally tops.
wednesday washout, page-28
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Last
8,223.0 |
Change
35.600(0.43%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,187.4 | 8,242.8 | 8,187.4 |
| XJO (ASX) Chart |