@Orwell No problem
"You must have been trading it back in 1976 to find that!."
Not quite, I wish I was as I would probably be a lot wiser now!
Just comparing repeating long term cycles as I think we are in a similar position in the cycle to back then. It should be noted that back in '76 price was being capped by the high of 1972, whereas now SPX is above the high printed in 2007. No two cycles play out the same way.
Some other stuff I'm looking at suggests our XJO is in sideways consolidation mode until 2017 so I'm watching to see if the US market follows suit.
Another price target for this rally, provided by the double bottom on SPX, is ~2113. This should get price back testing the 1x1 up from the 2011 low on or around 10th Nov.
Might be too perfect or it might be worth watching....../
The Big Boys, page-348
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Last
10,423 |
Change
120.300(1.17%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 10,302 | 10,456 | 10,302 |
| XMD (ASX) Chart |
