Scary is the right word to use alright. Not sure about the NZX but the ASX200 just retested it's all time high yesterday at 7145 before dropping back under the new Coronavirus results. Looking at the big picture the graph is shaped like a big "M" formation (indicating a market top) with the dropping right hand leg missing.
Last time I saw this was just before the Dot-Com crash. It will be more than interesting to see if there is a short term retest of this high, which if it fails means 'LOOK OUT BELOW' IMHO.
I'm holding 67% cash ATM plus hedging the ASX200 with BBOZ for insurance against my remaining NZ & Aussi shares.
Good luck to NZX holders too, though don't think you can hedge the NZX as easiliy.
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