Bullish comments? I've got them.
Bearish comments? I've got them.
The marketeers tell us to give the punters what they want.
Today was just a nothing sort of day. A small range, inside day. The market is setting up for a big move.
But - most of the negative sectors were Defensive Sectors (Telecoms, Utilities, Health and Consumer Staples) were all negative on the day while the XAO was just positive (+0.1%). That's bullish.
The mid-cap 50s were very negative -0.9% - that's bearish.
No new highs today amongst the 50 Leaders - but seven new lows - that's bearish.
Gravestone doji at the end of a down-trend - that's bullish.
Consolidation at the lows - that's bearish.
All in all - just take no notice of today.
The market is waiting to see what happens in America tonight after the big reversal day upwards on Friday - and tonight is Bullish Monday in America. Well - so many people now expect to make easy money on Bullish Monday - it must be about time the market made monkeys of them.
We shall see.
Judging by today in Australia - tomorrow should decide the direction for the next few days.
Cheers
Red
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