Big intra-day sell-off on the ASX today - probable end of the up-trend.
And now, for some reason I cannot fathom - I cannot load any charts to my blog. Which means that any moment I shall throw my iMac through the window. hmmm. Settle down petal.
Today's candle, if you could see it, is a huge pipe-stack. Or maybe, also described as a hypodemic needle.
It means that at the beginning of the day the XJO shot way up high, then spent the rest of the day going back to where it started. Not a good sign.
That also occurred at horizontal resistance. Not a good sign.
And it also occurred at the top of a lovely up-trend. Another not good sign.
I guess you've got it now. The market is going to go down.
Given that the Dow Jones has been up eight days in a row and its RSI is suffering vertigo from being up in the stratosphere (i.e., above 70) and you can conclude that the XJO is pre-empting a sell-off tonight in America.
Anyhow - that's how I see it.
And I still can't load a chart. Damn.
No comments:
Post a Comment