29/9/22. ASX up strongly today.
Today was a strong up-surge off support. The lower edge of the descending wedge is holding.
My turn date of 26/9/22 is also looking good.
We only have to look at overhead resistance, however, to see that progress from here-on will be turgid.
Expect a head-ache/hangover after today's excessive exuberance. Tomorrow is likely to be moderate or to the downside.
Breadth today was good. Advances/Declines came in at 920/446. That's a very positive result.
No sectors were negative today. The resources did best. Energy +2.8%, Materials +2.2%.
Tomorrow might be down but momentum is likely to push the market higher for a few more days.
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