XJO 0.29% 6,726.3 s&p/asx 200

sunny monday

  1. 5,311 Posts.
    Morning all. Looks like the downward breakout from the triangle was a false one after all, and now we are breaking the downtrend. It's a pretty good trend line so breaking it should be the start of a rally imo. A few people bargain hunting the banks should help. Still a bear market rally imo, if it occurs and Volts march date may even be a lower high on the daily. Probably not a good thing for the market but looking pretty likely.

    Posted the daily chart and weekly. Notice on the weekly that even a fairly convincing rally on the daily will result in a lower high on the weekly. 2 months into 08 and still not looking like it wants to be an up year but who knows, December seems like such a long way away.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.