The ASX 200 is growing in confidence. Having penetrated its descending trendline, to suggest a bottom, the index rallied to test resistance at 3400. Rising troughs on 13-week Money Flow suggest buying pressure. Retracement that respects support at 5200 would strengthen the signal, while breakout above 5400 would confirm a primary up-trend.
Why is this optimism? a bubble or true strength.
Chinese stimulus has lifted ASX prospects in the short to medium-term, but brings us closer to the endgame.