SYA Chart, page-1760

Key bottom test coming up (was away today so will keep it short)

Yes SYA dropped 1c to finish on 22.5c on a lower volume of under 112m shares traded.

ASX Li stocks eased along with markets, losing around 3.5% across 54 stocks that I track.

Tonight is a key test of US markets and may be world markets.

There are two theories going around. One that we will keep going down from here and those analysts are saying to be defensive as much as possible..

Second theory is that a short bounce is imminent (today/tomorrow), but it may not be final bottom. For that, SP 500 number can get a bit more down, but may touch 3500/3520 before rebounding and getting towards 3800 level. At this stage I am playing for this bounce, lets see if it happens. From a chart perspective, a Kiss of Death has happened on the charts, which sometimes has led market down. But one another phenomenon of this Kiss of Death is that markets rebound after this occurrence for couple of months before going into meltdown. Lot of chartists have got it wrong in this turmoil, lets see if this holds.

Things are very fluid and uncertain at this stage. We can only hope that we see some relief from constant sell down. All the best.