2008/06/30

NZ50 Index - Update


Where is it going ?
Unfortunately it's not all its fault !
Anyway ......
I don't trust too much at this figure above.
Some clouds are obscuring the sun, and I don't know why
but I reckon next long term target it is
area 2600-2550
where there are some interesting setup (70% today).
I want to say that it's really likely we are going to retest the 1998 top, as long as the shaddyy slump keeps going in its way.
Otherwise, if the pace is less dramatic it will stop close to 2750 area where there is a 61,8% retracement (30% today).
Stay tuned.
Bye

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