Looks to be in a big corrective structure and just completed a 5 wave and correcting down. It broke out of fork and went down as I said when I posted it a while back. Could push up 1 more time but it looks to be in a corrective type pattern in fork. When that thing breaks out of bottom of fork should go down for a while
I will be looking for nzd to maybe go up a little more, but I see it selling off fairly soon. I would like to see it break out of fork and this current consolidation it has been making, and then sell off back into fork
NZX50 just published a very bearish candle. Gapping to the upside then moving lower in a day.
Possible short opportunity but wait for confirmation.
Price overbought according to indicators.
Am I the only person looking at this chart? There's no other commentary.
Look at this chart and tell me if this looks really dangerous.
The SPX and NZD (NZ50) has correlated tightly since records go back. Looking at this chart, there has been a clear divergence in Nov 15. The SPX500 remains expensive at 25 PE ratio, while the NZD has continued to rocket up,...
