Noticed stop losses got triggered pretty quickly once it broke...

Noticed stop losses got triggered pretty quickly once it broke under 84.5.

Technically this is seems like it could be a false move, which might precede a counter rally as we had a bullish flag forming imo, however, that is now pure speculation and optimism based on todays low volume and opportunism for large holders to trigger stops.

Anyway it broke it support at 84.5 / 85 and then tested it from under neath which failed and resulted in the SP falling back again.

It had some previous resistance trying to break above 82.5 and 83 a couple of weeks back, so that may now in turn offer support which means we've seen the low... but that is less likely imo... if we don;t see a gain tomorrow, then 80 is definately on the cards. The problem I have with it falling to 80cents though is that the bollinger bands suggest that a move that big unlikely at this stage. They suggest we are actually in a period of relatively low volatility, despite todays fall. I'd be watching the bollingers and expect a large move coming up in the next week or two. Short term I would think it now harder to crack over 85 without good news or sentiment in market in general.

Overall - no idea - but don't panic.

yet.