IMUGENE CHART. TA only, page-33998

I'm not sure there's much to gain from Fibs at the moment as the SP has retraced nearly 100% since the spike. And you certainly can't do any Fib extensions during a downtrend unless you want to mislead everyone and we know how that shite turns out. (still in hiding). IMO, once the SP retrace past the 62%Fib then it's in freefall land and Fibs are of little value until the trend turns.



Currently the SP is back in "sit on hands" territory, Gmund got it right a week ago when there was little strength in the rise above the 8ema so the trade was ok but nothing to get excited about. So while it's below the 8ema then wait for a tag of lower bollie as a signal to pay attention. IMO.



To make it even more challenging is the slow down in market maker activity (insto's dropping right off) therefore if it's going to rely on retail to shift it then good luck. Retail can't move 8bill SOI very far. Bit like a bobcat in a coal mine.

Back over 5%


Cheers