Rob
Its pretty obvious the market has been in a medium term up-trend since march is it not?
In march it was 6500, its now 9550 - I don't know how that could be considered a down trend???
When it comes to the long term trend and bullish/bearish markets - well, thats different. the Long term support and resistance line is roughly 10,000.
IF the market pushes up through 10,000 and holds it there - game on for bull market!! However, if that happens, what it really means is that we've been in a bull market since March, it just took till now to 'confirm' it!!!
Just like the market was in a bear market since the double top at 14,000 occured october 2 years ago - again, it took till a breach of about 12000 till anyone actually recognised we were in a 'bear' market!!
Unless 10,000 is NOT overcome - game on for the bulls!!
RobIts pretty obvious the market has been in a medium term...
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7,889.6 |
Change
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Mkt cap ! n/a | |||
| Open | High | Low |
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| XJO (ASX) Chart |