G'day Evil...Mate, basically such moves are what I hunt for......

G'day Evil...

Mate, basically such moves are what I hunt for... and are the classic "Whooshka", a strong counter current trend movement after serial divergence first in the histograms then in the MAVs of the MACD.

I guess they can also be described as a releif rally after a grinding down of price over a protracted period of time....

'Tis not just on the US indices that such things happen, as they can also be chased on our market too.

In my unhumble opinion, I do beleive this is a sign that we will get some protracted upside on the indices soon... I beleive there may still be some drop to go as this wee rise is retraceable according to the one minute MACD, but neverthe less... looks positive.

Of note is that this means the Futures premium for the US index is greater than the cash close for same... whether this works for the US as well as it works for the XJO I don't know, but Volt has pointed out that this can be an indicator of downside could occur in markets that follow the market that exhibited a futures premium (when purely applied to the XJO)

Be interesting to see how our cash markets react on Monday, though possibly a quiet day due to public holidays in a few states, even though the markets will be open.

Finally though... the real answer to the question "what do I make of this?" is...

MONEY

LOL!

;)