tuesdays spi, page-62

i agree with kwaidan1.
my daily asx chart is still bullish, but the US weakness is concerning.


ASX broke out of a heavy resistant line (black line)few days back and has retraced and SO FAR confirmed this line as support - todays lows.
We are still in an ascending triangle. So until we break this support i would be careful in being too bearish. Also i have found after confirming a H&S (inverse is forming with the black line as the neck line - second chart highlighted) is that after confirmation - penetration thru neckline we sometimes get a 3rd shoulder, then the follow thru to the target.....tasmanian chart system? (can be seen on the weekly H&S we had over the last couple yrs)
Unfortunately this could mean that we might go lower then have our bear rally....so i guess i'm still unsure of our short term direction, lol!