Roller coaster, rock'n'roll... Who can say this is not interesting. RBA slashes rates 1%, market surges 100 points.
It recovered from 4200 last night to 4640 at 15:12 today. There is almost one hour more to go until ASX close. Then we will see what the Europe and US are going to do. On Friday its G7 conference. A concentrated effort is required worldwide to counter the market spiraling down. Whether this is a dead-cat bounce or a return to range remains to be seen, of course. Most people think its doomed to be a dead cat bounce.
There are no support and resistance lines right now. The index is in uncharted territory and everyone is pretty much clueless. It is interesting to go through this. I don't think I'll believe any economist for the rest of my life. :)
It recovered from 4200 last night to 4640 at 15:12 today. There is almost one hour more to go until ASX close. Then we will see what the Europe and US are going to do. On Friday its G7 conference. A concentrated effort is required worldwide to counter the market spiraling down. Whether this is a dead-cat bounce or a return to range remains to be seen, of course. Most people think its doomed to be a dead cat bounce.
There are no support and resistance lines right now. The index is in uncharted territory and everyone is pretty much clueless. It is interesting to go through this. I don't think I'll believe any economist for the rest of my life. :)
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