xjo signs of capitulation - rembrandt

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    Just following on from your chart and I have been dredging through others - the Small Ords being one of the few that hasn't broken support yet but its veeerrryyy close to doing so.

    Its not capitulation - just that death by a thousand cuts we were all talking about late last year - no huge falls or panic yet - which is a worry in itself.

    That support at 2896 getting broken was the sign to be worried and get clear. imo the index could and probably will break back to or through 2896 at some stage in the future but only briefly before it plunges to new lows.

    In such an event it would be unlikely to get higher than 2970.

    Of course the initial medium term target seems to be 2500.

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