Christmas Rally only with support 5335
Is the market BROKEN because of 1 days movement?
Support at around 5335 is critical for a continued rally into Christmas.
With a 60 + point move higher off this 5335 point level earlier this week, todays price action is testing the mettle of most traders.
This chart intraday at 2.pm shows a second retest of the low may be underway.
Some very big moves in BHP, WPL, STO and ORG have tipped the index significantly lower. ( 5320 )
5300 needs to hold today.
With the US on holiday and a short session coming up Volatility rules.