Barrow
Old major tops are usually support in a bear market and our bull market tops in 2002 for SPI and XJO were about 3500. In fact I think SPI couldn't get over that but XJO did a bit.
When we busted that level around Nov 21 it was only for a few days and recovered and has bounced off that area ever since.
I think we did have 1 day 10 or 15 pts below but not significant.
So obviously we could do similar again or I suppose even have another day hard below that recover straight away but is less likely IMO, so a decent close below 3500 and/or an inability to immediately recover suggests that worse is ahead.
As I know you are aware, there are no guarantees or we would all be zillionaires.
thursdays malaise, page-72
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Last
8,092.3 |
Change
139.100(1.75%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,953.2 | 8,092.3 | 7,952.8 |
| XJO (ASX) Chart |