No need to write anything on the latest chart as it was explained on my previous post a month ago..It took longer than expected to see a change of behaviour
but it has now..and its TA bad news..all supports broken all medium term indicators firing sell signals. All TA eyes should be focused on the next support level at 4530 (-4% down from now) then the psychological 4500.
QUOTE=Hoop;1001971]Just a heads up as the NZX has a TA Alert.
These last 5 weeks has seen relative calm (trendless) and a bullish feeling returning as the market tries to move out of its Bear Market cycle status.
The signals of change have appeared. Sorry the chart below is a bit messy
Positive/negative signals are mixed but there is a worry. The signals have appeared with the NZ50C index resting on multiple supports..Multi supports whether respected or broken results in high probability of that future behaviour happening. If respected there is a high probability of the market moving rapidly higher (more volatility) and reconfirms a Bull Market cycle is underway.. Ditto if the supports break but in a downward trend and the Bear lives on.
Either way its important for us "finger on the pulse" investors as it will define the status of the Market. Whether to start investing (accumulation) or remain on the sidelines. We will have a better idea which way in a few days as more data is obtained.
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