Oh dear - what I feared. Just went to check what analysts are saying and the whole world is talking about a head and shoulders bottom which means that won't be the right analysis. So as @Cabbie reminded me, the recent rise might have been wave one up and this is 2 down. That is the ultra bullish analysis.
I just feel that the importance of the current level on the index will be clear to all and the importance of holding it so I would expect there will be a major effort to get the PPT to enter the fray.
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Oh dear - what I feared. Just went to check what analysts are...
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