Many major indicies and many stocks have broken out. The S&P 500 has formed a H&S bottom, which many techs believe to be bullish. This has promoted much buying. The breakout will have caused many shorts to cover and weak buyers to come in. If it proves false this will only add fuel to the next down move.
Markets are at a very precarious position (as we all know). It is interesting to note that Bullish sentiment is as high as in January and Mutual Fund cash levels in the states are near all time lows.
Ruling LT trend is down.
ST - that is the question.
My opinion is that it will turn down soon and sharply but I have been wrong before and will be again.
In this type of market you need to realise quickly when change occurs to protect your position.
Regards,
noip
Many major indicies and many stocks have broken out. The S&P 500...
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Last
$4.74 |
Change
-0.030(0.63%) |
Mkt cap ! $3.183B | |||
| Open | High | Low | Value | Volume |
| $4.66 | $4.74 | $4.59 | $10.39M | 2.225M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 557 | $4.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.74 | 14226 | 5 |
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| Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
| DOW (ASX) Chart |