It feels like it needs to spend a bit more time near the bottom as opposed to going lower in price. This would allow time to accumulate stocks at bargain prices. The US bounced too quickly probably due to the large amount of shorts. Our own market seems to be carving out a more sustainable bottom than the US, without the extreme volatility. We're fairly close to their position on the chart (relative to lows) at our current level.
crash tuesday, page-62
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Last
8,052.7 |
Change
99.500(1.25%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,953.2 | 8,057.8 | 7,952.8 |
| XJO (ASX) Chart |