I am somewhat surprised by the lack of negative commentary re the double tops on the XJO, XAO, DJIA & S&P500(US).
The yankie indices look particularly negative with several other technical indicators also deteriorating or rolling over.
Am I being unnecessarily pessimistic here or is everyone just keeping quiet at the moment?
Personally, I don't trade the indices but keep an eye on them before taking positions mainly in some of the larger stocks over which the indices hold sway.
I might be wrong of course but my reckoning it's been a long time since these four indices all formed such a perfect and similar pattern which tells me this could be significant (read negative) for the short term at least.
All opinions and comments especially from experienced chartists would be appreciated.
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Last
$64.20 |
Change
-0.150(0.23%) |
Mkt cap ! $12.44B | |||
| Open | High | Low | Value | Volume |
| $64.19 | $64.35 | $63.96 | $555.3K | 8.653K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 40 | $64.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $64.20 | 30 | 2 |
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| Last trade - 10.45am 05/11/2024 (20 minute delay) ? |
| ASX (ASX) Chart |