All Ords will have its big test around 5,700 points. From a charting perspective this is a resistance point.
If it goes though 5,700 then we're in uncharted territory. All Ords peaked around 6,800 points and is now at 5,870, down about 1,000 points or about 14.7% off its highs.
To suggest the All Ords will go to 5,000 points would make the market down nearly 30% off its high.
To go to 5,000 points would make it one of the worst stock market corrections in history, worse than Sept 11 2001 and the tech wreck.
5700 big test
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Last
8,013.8 |
Change
11.000(0.14%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,002.8 | 8,061.9 | 7,998.5 |
| XAO (ASX) Chart |