joany thursday, page-67

Exfiles,

4444 - sounds like a magic number.

More or less the triple day high back in May 2012. The intra-day highs were:

4448.5 - 1 May
4449.5 - 2 May
4443.5 - 3 May

So round figures 4444/4445 - a key horizontal support level.

Near term, horizontal support lies at 4457.6. 40-Day TMA currently at 4476.1

So we've got a support zone in there (round figures) 4444/4476.

Yesterday the market closed at 4483.8

At a guess, I'd say we'll close within that support zone today. In which case, we might have to wait until Monday.

If 4444 does break decisively, then, yes, we're probably going a lot lower.

Redbacka