Courtesy of Doug Short.
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Are we hearing some Thunder from Down Under? For the first time in a couple of years the All Ordinaries Index has closed on a weekly basis below rising support at the top of its multi-year rising channel.
Back in 2007, this index and the S&P 500 broke key rising support at the same time. Could both of them be breaking support at the same time again?
Joe Friday: “Investors in the States might want to watch what is happening Down Under, in case another important signal is being sent to the S&P 500.”
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