a couple of weeks back I was following watching a bit of a rising wedge thing that the DOW had going on. It broke down from that wedge and has now come back up to retest the bottom. 3 days in a row it has butted up against the bottom but as yet has not re entered the wedge....and all this time the vol has been dropping sharply. Also as an aside I note that BHP has been in a sharply downward albeit fairly wide channel for some time. Last weeks low saw BHP bounce off the bottom of the channel and today we have hit the top......
Not saying we won't have a bearmarket rally but we may be getting awfully close to the first pull back at least.
thursday thanksgiving trading, page-10
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Last
8,363.0 |
Change
78.300(0.95%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,284.7 | 8,364.2 | 8,284.7 |
| XJO (ASX) Chart |