I have been trading markets for more than 40 years and this is certainly the wildest ride I have seen.
I have some thoughts though.
I barely survived 1987 BUT I noted that XAO rose about 5.2X the 1982 low into the 1987 top in 5+ years.
The subsequent drop was 0.618 of that bull market and also 0.5 of the high to zero.
SPX has risen about 5.1X the 2009 low into 2020 in 10+ years.
IF this drops to 0.618 of the 2009/20 bull market and 0.5 of the high the target is 1700.
Allow a few points and of course nothing is ever guaranteed.
Sounds like a worthwhile buy point though and place your stops.
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |