Big Daddy,
If you look at the shorter term chart posted earlier you will notice the resistance that the DJIA currently faces.
It is most likely the Australian market pre-empting the difficulty of clearing this resistance. Could also be influenced by profit taking with the high aussie dollar (rate cut) or "sell into the good news" supply etc etc.
I have delayed data, so cannot show todays xjo candle. But it should be shown on Redbacka's post earlier in this thread. It is a bearish inverted hammer. Bullish hammers and bearish inverted hammers have been very effective at signaling turning points over the past year on the XJO. I have numbered them throughout the chart below.
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Big Daddy,If you look at the shorter term chart posted earlier...
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Last
7,987.2 |
Change
6.800(0.09%) |
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