Congrats Australian bears
Welcome back to 2022
AUD still holding for now & most likely will hold & recover
AU 10 yr bond yields not only pricing 1 rate rise, they're now trying to go above 4.35%
2 rate rises?
Absolutely absurd & just proves how useless sheep we are
US markets cooling off ridiculous highs, which I have no concerns if they wish to correct
Ftse & most of the world pumped to avoid those march lows & 2022 market pricing
They will need a lot of negativity to return to those march 2023 lows
But the xjo is that special country that likes to see the worst in everything
We are now at the bottom of the next range down
Approx 6950 to 7210
So yes, again I'm looking for a bounce anywhere from here, even as low as 6950 or even 6930 if they want to take it that low
6990 is what any potential bounce has to get through & hold today to be the game changer
That's a specific target & not some 200 point random range
US vix should reach 18 by tonight but recover afterwards as they complete their vix correction pattern (recovery might not happen tonight but it will happen)
The australian bears have returned to 2022 pricing but luckily the bulls are still buying or we would've hit 6600 this week
That's a potential target for you bears if bulls throw in the towel in the coming weeks
Otherwise I still see a reversal after this with the xjo back at 7210 by the end of the month or start of October
& hopefully follow through the magic recovery
Also, if bulls maintain their buy pattern from march & may 2023, this is going to be the biggest bear trap in the history of mankind
Bears have practically almost reached peak selling similar to march 2023 & September 2022 (the only difference being the bulls still holding up markets atm)
If I'm wrong & bulls do throw in the towel, I apologise
8000 is just going to have to wait that little bit longer now
But I still set my target for 8200 in July 2024 like I promised months ago
That hasn't changed
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Congrats Australian bears Welcome back to 2022AUD still holding...
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