what we have seen today is a classic bear trap.
the DOW was down over 300 points initially...many would have sat on their shorts or even added more thinking that the .75 rate cut would have no effect...
then BOOM, a relentless turnaround that sees it climb 600 points without a break!
the shorts would have had to cover quickly and those that didnt will have to do so very soon, so there should be a rush to go long and for the momentum up to continue.
a definite turnaround in sentiment, at least for the very short term
what we have seen today is a classic bear trap.the DOW was down...
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Last
$65.20 |
Change
0.070(0.11%) |
Mkt cap ! $12.64B | |||
| Open | High | Low | Value | Volume |
| $65.61 | $65.84 | $65.02 | $12.72M | 195.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8 | $65.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $65.20 | 419 | 1 |
View Market Depth
| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| ASX (ASX) Chart |