As Volt says ... It might be different this time.
Below is slightly bigger picture XJO chart. Interesting to note the volume it took to move the price 1774.5 points from March 09 low to the Oct 09 high and near 70% of that volume could only get price another 129.8 points higher before 180 degrees passed and price collapsed.
Gann speaks of time required for distribution and I am told he says when distribution reaches 2/3rds of the volume of the rally is the tipping point.
I ommited the Market Price analysis indicator for the run down from the May 08 top (chart got too messy)The mid line was again just a few points under the recent top.
As Volt says ... It might be different this time.Below is...
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Last
7,943.2 |
Change
-171.500(2.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,114.7 | 8,114.7 | 7,920.0 |
| XJO (ASX) Chart |