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april2761

4,223 Posts.

209

05/07/24

10:13

Post #: 74620360
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Originally posted by TheFadz: ↑

Nicely done
Bulls made the first move

Australian bears will be all over this today though (they'll try anyway)

I won't celebrate yet until I see bears give up & let this run
This has dragged on for way too long

Market conditions have improved but not xjo 8000 worthy yet
We are still in the channel though but best we can get is 8000 eom (we've maintained the same bullish channel since April. I know it doesn't look like it but we have maintained an uptrend since)

Unfortunately, unless we break out of this channel I can't get my 8200 market top this month like I promised a year ago (have to wait for an august high instead)

Worst case scenario for bulls is bears manage to succesful suppress this & bulls fail to tag 7860 tonight or 7880 tomo night/monday which means we most likely break down a channel & we end up back at 7600 by the eom
Continue with a 200 point consolidation range while we wait for market conditions to improve

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Looks like we're heading south again today.

XJO Value at posting: 7,809.8
1 Upvote

0 Great analysis

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