The ASX 200 index respected its rising trendline on the weekly chart, indicating continuation of the advance to test 4400. Breakout above 4400 would indicate the start of a primary up-trend, while recovery of 63-day Twiggs Momentum above zero would strengthen the signal.
* Target calculation: 4400 + ( 4400 – 4000 ) = 4800
Bullish divergence on the daily chart shows medium-term buying pressure signaled by 21-day Twiggs Money Flow. Breakout above 4300 would indicate a test of 4400.
its a shame that the intrinsic value of most of the companies that make up the index is lower than their stated prices. The correction will come hard and fast ——– one day.
Well, the market is only a list of stocks. If your portfolio consisted of mainly mining services, gold, and shale gas stocks you have already outperformed the ASX200. In my opinion banks and large miners will continue to be a drag on the overall market, not to mention retail and manufacturing stocks.
very helpful guidance