Here is the latest DJIA chart which better signifies the current market than the BHP chart IMO. As I previously stated, a ‘surprise to the downside’ was indeed in order and a resultant break of the symmetrical triangle ensued. I feel that we have successfully retested the lows and put in an Engulfing Bullish candle with good up volume (93%).
BHP’s action on the NYSE whipped both ways (down and then up) and a lower open tonight is likely. I expect the market to tread sideways for a couple of days while this bounce is factored. Again, I am bullish on this market and see a rally well into 2009.
Here is the latest DJIA chart which better signifies the current...
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 (20min delay)
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Last
$42.70 |
Change
0.400(0.95%) |
Mkt cap ! $216.9B | |||
| Open | High | Low | Value | Volume |
| $42.83 | $42.83 | $42.33 | $89.92M | 2.103M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 8142 | $42.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.71 | 1680 | 9 |
View Market Depth
| Last trade - 10.56am 01/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |