Obe,
The answer is simple....The SPX needs to pull back for a continuation of this rally. Corrections even in up trends are healthy. It’s a correction or a sudden collapse once there aren’t anymore buyers left.
As you may have read Wells Fargo came out with a pre release of it’s “better than expected” financials some two weeks before it was due to report to the market. Needless to say the shorts were creamed and I dare say there are few buyers left in this market.
Obe, it’s nice to see interest in some of the topics that I discuss on HC. To be quite honest, I think we will see the 30 region prior to the 35 region for BHP unless the SPX goes straight up to 1000 without pulling back (which is highly unlikely).
bhp opinion, page-39
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Last
$44.64 |
Change
-1.320(2.87%) |
Mkt cap ! $226.4B | |||
| Open | High | Low | Value | Volume |
| $45.20 | $45.37 | $44.55 | $528.0M | 11.76M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 4676 | $44.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $44.64 | 12961 | 1 |
View Market Depth
| Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
| BHP (ASX) Chart |