Gday Volt,
Just a different way to look at things.
Here is the weekly chart for the XJO.
Cannot get too bearish until the major upsloping trendline has been breached. Of course even a retest of this line is still another decent drop back to the 5800 area.
I also expect volatility, and some other work I was messing around with on the DJIA gave me the impression of downwards pressure until the second week of October? So another 4 weeks of downwards pressure on our index as well??
That would mean a 480 point drop over 4 weeks on the XJO...of course that is only my take on it, then I would like to think it is back to game on for the bulls?
Cheers
Commy
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Last
8,580.6 |
Change
-8.700(0.10%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.1 | 8,589.1 | 8,550.2 |
| XJO (ASX) Chart |