Yesterday's post i said; 'now it looks as if we are headed to the bottom of the 'black channel'.....very near short-term.' - we achieved that in last nights session and this morning trading.
Where too now?
-We need to hold this line to continue our bear-market 'sucker' rally
-next support level is at 3800'ish (Fib line)
i think if we can hold we may touch that magical 4200 mark, that would be amazing and result in an even harder fall, but if not then next target is 3800 and then so on downwards......
Final note; Seems to be a lot of Capital Raising going on overseas and at home a little. This for me is an indicator that most companies think we have hit a S-T top and its a good time to tap the market for capital.
safe trading
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