The ASX 200 breched its descending trendline, indicating that the primary down-trend is over. Breakout above 4400 would signal the start of a new up-trend. Twiggs Money Flow (13 week) continues to oscillate around the zero line, however, suggesting weakness.
* Target calculation: 4400 + ( 4400 – 4000 ) = 4800
after todays trading a good buy price would be around 4200 to 4300? chart indicates up movement.
Volume has been thin for over 2 months now and cash balances are increasing at a furious rate. Big end of town is waiting for the Great Correction like they always do months in advance.
“Big end of town is waiting for the Great Correction like they always do months in advance.”
A lot of commentary has suggested that the big end of town has had to get in, rather than out or even stay out, from the start of January, especially in the States.
The US Advance/Decline line doesn’t hint that this run is over anytime soon. That said, I check it daily for negative action/sell signals.
PS. Moderators, is there a way of posting a chart here? As within a comment from one of your subscribers?