"Dow Jones retreats on concerns over higher oil prices." "Dow...

"Dow Jones retreats on concerns over higher oil prices."
"Dow Jones surges higher lead by energy stocks which rose on higher oil prices"

The above two contradicting statements was an example used in an article I once read on technical analysis. Sometimes what we think should happen based on fundamentals doesn't and sometimes financial journos make up a narrative to fit what is happening on the market.

The ann before last should theoretically blasted the share price to this level but instead we fell to the low 7s. This last ann on P2 whilst encouraging did not seem like it would set the world on fire....yet here we are. What did happen with the last sell off was: we retraced 38.2% of the entire move from discovery to the last ATH, we filled a gaping gap on the chart, and we revisited the 50 day ema. In other words we had technically set ourselves up for the next upward move. I think I even said after the last sell off that if that ann did not launch us to the next level then the next ann would once we touched the 50 day ema. But not even I thought such an innocuous announcement could have such a significant effect on the SP. But it does go to show that it pays to keep an eye on technicals because often fundamentals don't always tell us the whole story.