Christmas rally YES!
This chart is an extension of the analysis in the Portfolio section.
The Australian Christmas rally is starting to show in the Index.
On Friday the 21st the Index made a low of 5293, followed by Monday’s rally of 57 points
The rally on Monday was not across all sectors and limited to the resources, Tuesday and a retest of Fridays low occurred
but did not go to a lower low.
Then notice how Tuesday’s closing price was well off the low and has followed through higher today on
an all sector rally.
This sets up a price target into Christmas of 5610/5628.