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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.