The current dip in the XJO shouldn't be a surprise. 5 up weeks...

  1. 167 Posts.
    The current dip in the XJO shouldn't be a surprise. 5 up weeks in a row with the first one catching everyone by surprise. It looked like it would break lower after trading sideways for months but instead it formed the most bullish candle.

    Anyway I've got to be honest I don't follow the macro factors anywhere near as much as you do and I'm more into the technical side. Can go lower at this point so no point trying to pick the bottom of the XJO right now. However, like you said the ASX almost imitates the US markets so if they sort themselves out which I believe they will (at least short to medium term) then a retest of 6000 in the ASX is very likely. Best to sit on the sidelines for now.
 
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