Just for an exercise I have checked a one year daily chart of the XJO with a 200 day EMA overlay.
The largest positive differential seen was a daily price 6.8% above the EMA. Currently the 200 EMA is @5890. If we can get to a 6.8% differential then that is 400 points taking us to a value of 6290.
That is modest compared to late January when the US differentials were:
Dow 16.5%
Nasdaq 100 16.5%
SP 500 13.0%
If the US indices resume exponential growth as they exhibited in December-January, and our good positive correlation is continuing, I am looking to 6300 as my medium term target area.
Just for an exercise I have checked a one year daily chart of...
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7,829.7 |
Change
66.500(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,763.2 | 7,832.3 | 7,763.2 |
| XJO (ASX) Chart |