Here is a 4 hr chart for the SPI. The highlighted part is unusual for this indicator and why I'm currently a little bearish. The 200 MAV is now right in the way of the action so I would expect a pull back sooner rather than later to somewhere around the 4100 area depending on the speed of the pull back. That may be the point where this new uptrend is confirmed.
I can't rule out range trading into xmas yet either but as I mentioned earlier, I want to be a bull.
Here is a 4 hr chart for the SPI. The highlighted part is...
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Last
8,295.1 |
Change
68.800(0.84%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,226.3 | 8,319.4 | 8,226.3 |
| XJO (ASX) Chart |