PaddoYou are correct about last week being the low for the...

Paddo

You are correct about last week being the low for the year.

The question is will it remain so :-).

I have no idea. Well actually as usual I have too many ideas.

On a monthly basis I still have the local market bearish and US bullish.

That is unlikely to remain so which one will give?

Weeklies are very oversold now and so risky to bet too hard on the downside without some messin' about first at least.

SPI futures via IG Markets got up over 100pts gap yesterday so I actually got 3 bites at shorting at various levels.

AND then we completely filled the whole gap. I'd like to say I got it all but phased out like I phased in.

Very nice and it means I must be punished shortly by the trading gods.

By messin' about, it might be as you mention, such as a lower low even. That would be like Oct 2008 TDSEQL below, which also had a 1 week rally.

Time to be nimble for a while I suspect rather than trending.