I'm more positive and think the market will rally soon. Its just waiting for the war to end. Expect a Ukraine/Russia peace deal soon. Both Germany and the UK have said that they will continue to buy Russia's oil & gas and will consider a cutback in 2-3 years. That's 90% of Russia's oil & gas. As far as the market is concerned that is all that matters. It means Russia can continue to service its debt (no banks will go broke) and there will be no energy crisis. I believe this has ended the market crash.
The DAX (below) has bounced off its low and is about to challenge the downtrend resistance line.
The DJIA (below) is now trending up toward its downtrend resistance line. Expect the uptrend to continue.
The NAZDAQ (below) appears to have reached the 2020 Covid uptrend resistance line and is about to head back up.
07/03 Week, page-264
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Last
8,212.2 |
Change
8.500(0.10%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,203.7 | 8,225.5 | 8,203.7 |
| XJO (ASX) Chart |