Yesterday in Australia:
A huge range on very heavy volume with the XJO finishing up strongly +4.42%.
We need to see follow-through buying on Monday to confirm that this is a bottom of the current pull-back. It is not necessarily "the bottom" as bear market rallies can be awesome. I'm treating this as a bear market rally until otherwise proven.Overnight:
The Australian market, as it has been doing all week, pre-empted the American market which had great results:
Dow Jones +9.36%. SP500 +9.29%. Nasdaq +9.35%. Small Caps +8.07%.
SP500:Last night's action closed the gap set up by Thursday's action. We should get a pause here.
Until I get some solid evidence otherwise, I'm treating this as a bear market rally.
Commodities Index +1.09%. Base Metals +1.5%. Energy +1.41%. Gold was the big loser -3.05%.
RSI for DBC hasn't been above 50 for the past two months. Until we see it break above that, any rally will probably be a bear market rally.
CNN Fear and Greed Index:
Fear and Greed may be making a short-term bottom, but past history (2018,2019) says to be cautious. This remains a trader's market, not for investors.
- Forums
- ASX - By Stock
- XJO
- Weekend Charting and Chat, 14/15 March
Weekend Charting and Chat, 14/15 March
-
- There are more pages in this discussion • 34 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,212.2 |
Change
8.500(0.10%) |
Mkt cap ! n/a |
Open | High | Low |
8,203.7 | 8,225.5 | 8,203.7 |
Featured News
XJO (ASX) Chart |