Well, we got the VIX close above 50 that I was expecting. However, the target has now changed and VIX may now need to close above 60 to generate the necessary fear to capitulate the market. NYSE down volume is 80% and declining issues are at 87% (no capitulation yet)….
I note that some analysts have started buying and also noted that Marc Faber now sees a market bounce. It’s true that the technicals remain oversold and the market is in ‘buy’ mode. BHP target region today is around 28.70
Bottom line: Further falls ahead IMHO.
Well, we got the VIX close above 50 that I was expecting....
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Last
$42.07 |
Change
-0.030(0.07%) |
Mkt cap ! $214.6B | |||
| Open | High | Low | Value | Volume |
| $42.29 | $42.43 | $42.07 | $244.2M | 5.785M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4000 | $42.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.08 | 1000 | 2 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| BHP (ASX) Chart |