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DmitriMA

3,978 Posts.

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23/04/24

10:20

Post #: 73470963
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Originally posted by DmitriMA: ↑

Well, as predictable moves go, last night on the SP500 certainly qualifies; an oversold bounce off the 20 week EMA, precisely tagging the bottom of the channel, before pulling back to lose 40% of the day's gains...

Our ASX200 yesterday was similar but different, coming from below the 20 week EMA and recovering the channel, but still pulling back 30% from the day's high...

Should note however, that the ASX200 channel is half the duration of the US500 chart, with fewer points of contact - so not as strong an indicator/reference point.

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Here's another Fun Fact I just noticed:

The US500 gap-up I mentioned a week ago, that was filled on Friday
- the top of it was @ 5038.83

Last night's high & tag of the channel happened to be @ 5038.84

The Algos reign supreme.
1 Upvote

0 Great analysis

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