One thing I've learned ... any oversold situation can become more oversold and vice versa. The question is ... is this a V bottom blip, a correction, or worse.IMO stocks trade to their future PE's. Right now supply chains are collapsing and the viability of some companies now in question, others are at the very least under pressure."This time it's different" is a statement I'd like to review in a week, month, three months.I think it's fair to say we have confirmed a "correction" - less 10%.
The US indices charts are starting to make triangles to me so that's a continuation sign - IMO - meaning more down.My "eyeball" measured move on the Dow triangle in the making looks to suggest 22,000 is the next target.
What we will see are bear market rallies - normally bear markets last between 12-18 months and normally the rallies are the sharpest bounces due to short covering profiteers. Therefore we should know the bottoms in sight when the bear rallies cease and we get a low volume U shape after people have absolutely given up hope.
Best. (News from the UK right now ... everything is selling out in the supermarkets - the panic has begun)
General Comments / Chat, page-151
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Last
$1.23 |
Change
-0.010(0.81%) |
Mkt cap ! $204.3M | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.25 | $1.21 | $112.8K | 91.45K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6908 | $1.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.24 | 600 | 1 |
View Market Depth
| Last trade - 15.05pm 02/05/2024 (20 minute delay) ? |
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Last
$1.22 |
Change
-0.010 ( 1.61 %) |
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| Open | High | Low | Volume | ||
| $1.24 | $1.25 | $1.21 | 15053 | ||
| Last updated 15.12pm 02/05/2024 ? | |||||
| RAC (ASX) Chart |