Evening ppl,
It just dawned on me that the S&P has put in a higher double bottom with the daily lows on 7/8 and 11/8 at about 992.4 and that spells "the index is going higher".
It’s a pretty sure sign of strength while it holds.
Its also the 1/8th extension of the rally March to June.
The most recent example of a high double bottom like this was late last year (22/12 and 29/12) and that lead to the rally into the New Year, remember?
Not sure yet how that factors into my best guess for a low next week. I'll have to scrap that idea of a low and just say up we go into 180 on 2 September now.
We could have an 18 day rally from here which would mean we start up again tomorrow give or take a day.
Cheers.
- Forums
- ASX - By Stock
- friday's trading
Evening ppl,It just dawned on me that the S&P has put in a...
-
- There are more pages in this discussion • 56 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
8,084.5 |
Change
60.600(0.76%) |
Mkt cap ! n/a |
Open | High | Low |
8,023.9 | 8,086.7 | 8,023.9 |
Featured News
XJO (ASX) Chart |