Todays break of key support was a bearish signal. Not Bullish (IMO). Yes returns of the market are favourable, if they are sustainable. For some companies they are, some they aren't.
Fears are:
Upcoming withdrawls of US Stimulus in 3 weeks
Upcoming possibily of US interest rates rising
Current - Syria
Current - China not booming
Current - IO prices tumbling
etc etc etc
The market has for once thought of the future instead of the current. Having said that, once the Fed meeting finishes in three weeks, I see a possibility for a rally. But until then, again IMO, todays signal is to withdraw/short anything with PE's that are too high. Is it any wonder gold has started to bounce, and im not even a gold bug/bear/bull whatever. lol
XAO rising wedge ?, page-5
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Last
8,629.2 |
Change
74.800(0.87%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,554.4 | 8,700.5 | 8,554.4 |
| XAO (ASX) Chart |