TED spread once again gave advance warning of a correction. I highly recommend keeping an eye on this indicator (not so useful for day trading though).
Current correction could be relatively shallow for XJO. We are at strong horizontal support area, stocks are cheap. Given the sharp pullback in rice, wheat and other commods throughout Feb, China inflation may be relatively benign. HSI chart still intact in any case, while XJO has already completed a little H&S measured move.
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Last
8,603.0 |
Change
7.200(0.08%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,595.8 | 8,616.8 | 8,589.5 |
| XJO (ASX) Chart |