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0.21%

8,027.0 s&p/asx 200

Another 100 points from here would bring XJO close to 6050. IMO...

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Albright

1,827 Posts.

26/02/15

19:17

Post #: 14825424
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Originally posted by Caylus ↑

By the by...I think Maxi is spot on. But I wanna add the market has a psycho factor which numbers and charts aren't gonna tell you.

Thee final push could see the SPX run another 100 points before the turning point. Too many shorts out there getting squeezed. Could be a final push to clear all the bears and turn them all to bulls before the real funds come in and sell en masse.

This I believe is what is known as an exhaustion bar chart....a rapid spike up and sell off immediately back to square or below.

Anyone who is buying stock right now and going long (including me) needs to be aware of this. I tried shorting for past 2 years. Ended up going long and then short, and then shorter and then long again when it didn't work.

When the sell off comes....hang on to your shorts. No pun intended.

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Another 100 points from here would bring XJO close to 6050. IMO it would be less riskier to buy above the resistance level once it has been confirmed. I think the market is starting to get skeptical about going long between 5900 - 6000 when it could easily go the other way, hence the profit taking today.

XJO Value at posting: 5,908.5
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