Week of 08/03, page-91

Sp500 & DJ have poked their nose above the downtrend channel
DJ hitting a new record high
Nasdaq didn't break their downtrend channel. It hit it & rejected it at its first attempt (might have another go tomo)
US markets all green

XJO has 6810 as its top of downtrend channel
So if it hits that, could be another short opportunity
But looks like it might struggle to get past 6765 today
A break through 6810 is moon

Most likely scenario I think would be rally to 6765 after open, then back down to test 6700, possibly falling through that ending at a new low
& then 6600 by close tomo
Considering the ASX has basically ignored all other world markets & refuses to hold any gains overnight (although I'd personally prefer this doesn't happen)

Hopeful scenario would be break through 6765 today
Close near 6810
Trade flat tomo
Moon next week after it breaks through 6800 & back to bull market again
Or at least have opportunities to trade both ways
Not just short every day

ASX is so far behind other markets that it's due for a big run