Quote Originally Posted by winner69 View Post
I’ve known Hoop for 20 years plus ….he is inherently neither bearish’ or ‘bullish’ ……calls it as he sees it, mainly based on what charts are showing.not his fault things look bearish at the moment, I’m sure he’d prefer they weren’t.

I will expect readers to keep that in mind.
Why I felt so when I wrote what I wrote ....

Last time market took support close to 4200 NZ50C ...then " Bear Market Rally " started as expected by many including me ...though I am not a TA expert at all ...I specifically asked TA experts for actionable info about where it can reach ...what levels to hope for ahead on the way up ....I was told Bear Market rallies normally fail at first resistance ie 4500 ....but this one went on over second resistance too that was 4600 and reached third resistance of 4800 ....there all including me also became negative as it was too bullish for current market situation from FA angle also .

Now he is anticipating in advance the chances of 4200 failing ...ie is bearish expectations ahead of it happening which shows bias ...He didnt show any bullish bias when it was going over 4500 then 4600 to almost reach 4800

But now he predicts good chance of 4200 breaking in advance ....may very well happen but no one knows ....if there was no chance of it crossing 4800 then how come it becomes predictable that it can break 4200 this time ....just need to wait and watch

I am not on either side both ways ...while going up or going down ....just need to wait and watch how it reacts to 4200 levels like we all saw how it reacted to 4800 levels ....without any predetermined bias