Despite other reasons both fundamental and technical I think from a very simple point of view that "W" recovery chart formation is playing out beautifully here imo.
Ignoring all the other trendlines on my chart below have a look at the pink lines.. speaks for itself on where it's going imo. SPX & DJIA look very similar. Too perfect to ignore IMO.
XJO daily
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Last
8,561.8 |
Change
-68.500(0.79%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |