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0.10%

7,767.5 s&p/asx 200

So a round figure 7600? Only another 4.3% I guess that's...

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MohammedBigun

2,553 Posts.

313

27/04/23

14:13

Post #: 67481793
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Originally posted by TheFadz: ↑

I'm serious

I expected 14.6 xvi to hit this week (blue arrow gap to close)
We were so close
Instead it peaked Monday & has been grinding down all week as the index grinds lower
Everything that's being sold is being absorbed (usually at the open & then suppression for the rest of the session)
So if it can't get to 14.6 by tomo, not only will we get back to 7550, there's a chance we go higher

Bears own the hrly chart & the selling is similar to march
The only difference is it's being absorbed
(Maybe they forgot to switch their algorithms back to normal. Haha)
Bulls in place ready to pounce as soon as bears give up or run out of ammo

If that xvi continues to fall into may, how long before bears say "shit, we're in trouble"

They will need to fabricate another black swan event to get out of this again
Or make sure they have deep pockets to withstand the drawdown

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So a round figure 7600? Only another 4.3% I guess that's do-able, but uncertainty as to the Tightrope the RBA is walking ATM is my concern.

XJO Value at posting: 7,281.8
2 Upvote

0 Great analysis

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