A more immediate question is why the divergence/under performance over the past week, positive overseas index moves 'usually' result in moves in the same direction here. Not happening. Last night we have the S&P500 moving up strongly and looking to confirm a break + europe was up, this morning asia is up almost across the board.
Yet we just turned negative for the day? .... and still threaten to break downwards?
I mentioned yesterday, I saw something similar in 2007.
Also, I agree on the root cause of the under performance of the past 2 years: LABOR
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Last
8,570.4 |
Change
-9.700(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,580.1 | 8,593.6 | 8,558.3 |
| XJO (ASX) Chart |