Reasons Why Yesterday May Have Been THE Low

  1. JC2
    4,397 Posts.
    YES I know I was looking for 3036 on 29/07/02. That MAY still work out, BUT.

    1. The 17th is a great day for bottoms. 17/01/91 and 17/11/92 were MAJOR bottoms.
    2. We had a 5/8 retracement of the move up from 24/09/01.
    3. We had a 1/3 retracement of the move up from 1988 low.
    4. The first leg down on the SPI was 157 points as was this last leg.
    5. To hold the long term trend on the weekly close charts we need to hold 3140 on the SPI and 3156 on the ASX200 charts which we are trying to achieve.
 
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