We've just gone through a period where even bad news is good news but it's not always like that.
The recent consolidation zone does look to be distribution and with not much volume down to 4590 seems like a good time for bad news to become bad news.
Highly likely 4590 to 4717 becomes a chop zone till opex.
That means bad news is bad news, good news is good news and all of that gets mixed with a ton of f#ckery.
If price climbs back above 4717 and holds then all news becomes good news again. Bulls rejoice...
If price dips below 4590 but more so 4565 then all news becomes bad news and there will be a ton of it all the way back to 4100 and beyond. Bears (the few remaining) can finally get out their party hats.
Seems like a pretty clear game plan
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |