Is it over? XJO
The market has failed again with its attempt to cross 6000. With the financials and resources both tracking higher the Index was on track to cross this elusive level.
This week news and other reports have suggested the AAA rating for Australia might to challenged. This has significant consequences for the banks and business in general. As always its best to keep this in context with a line. The tipping point would be a break of the Low 5747. A break down from this level would signal a major top in place.
For now 5860 – 70 points must hold on a Weekly close.