With the positive correlation with the SP 500 we are seeing relatively little volatility in the price action in the US. Now awaiting the decision by the Federal Reserve, the market having priced in an increase of 0.25%.
If they instead hold, we could see a moderate relief rally with a corresponding rally in the XJO. Either way we are probably stuck in a sideways trading range in the short term. The symmetrical triangle on the daily candlestick chart is narrowing and has around 3 to 4 weeks to arrive at the apex.
With the positive correlation with the SP 500 we are seeing...
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Last
7,767.5 |
Change
7.900(0.10%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,759.6 | 7,819.0 | 7,754.9 |
| XJO (ASX) Chart |