A shocker last night. More froth needs blown off the top IMO. 5658 next S&P Target, around the 200 EMA. That would be a nice pullback, any lower and that is a real sign of trouble.
Depth the last 2 weeks of advancers vs decliners was a warning sign with S&P pushing up on less advancers than decliners by some margin. Nvidia's market cap is worth more than the entire AI business market numbers being projected. Things are way out of kilter.
IMO Aussie market is in for another 500 points of fall, minimum.
Imports just suddenly became much more expensive overnight as the AUD plunged vs US, its also fallen below the UK pound 2:1 ratio, travel business is going to start getting hit if the Aussie stays low, and China is not going to come to the rescue this time round, with our alliance to the US and the Trump trade war looming.
Spec market is going to be hit hard, IMO, barring a few niche companies.
