It is the ability of the chartist to interpret the possible future movements. There are times when it can be incredibly accurate & others, when the market is trendless, that can be confusing. All I can do is say what my current interpretation indicates. The overall trend is certainly bullish which normally would indicate a continuation of the trend. I realize that I am in dangerous territory predicting a reversal but that is how I am interpreting the chart.
If the trend was to continue upwards in a huge 5th wave, as you suggested, it would indicate the length of the 5th wave would take the price to around $167.96 which seems rather excessive. This would then show a yield of 2.77% & grossed up 3.955%. That would not be too encouraging.
Currently, the S&P500 futures are up 0.15% indicating a positive U.S. stock market tonight.
It is the ability of the chartist to interpret the possible...
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Last
$138.81 |
Change
2.010(1.47%) |
Mkt cap ! $232.3B | |||
| Open | High | Low | Value | Volume |
| $137.51 | $139.29 | $137.18 | $261.5M | 1.888M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $138.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $138.81 | 2619 | 1 |
View Market Depth
| Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
| CBA (ASX) Chart |