That’s really good stuff Fid, always the measured...

That’s really good stuff Fid, always the measured assessment.

Personally I’d now like to see the 8 come down below the median as the bounce will always be stronger similar to early Feb when both the SP and the 8 skipped over the median. If it doesn’t then it’s quite a soft landing and the launch pad a bit lifeless. So I think a bit of short term pain at the 62 fib will produce a stronger outcome.
So we sort of need the chart to reset over the next week (or two) of sessions and let the signals do their thing. IMO.

And for the fundamentalists reading this, and this view won’t be popular unfortunately but if the 62 fib doesn’t act as support, then it’s a message from the market that there is very little confidence in the current company fundamentals. So this week is a test for both TA and FA. IMO

Pouring rain all afternoon here in Burleigh Heads, still pretty cool place though.

Cheers.