See charts below with an On Balance Volume indicator and the Money Flow Indicator using a 13 period
Despite the falls in price, the OBV and MFI are showing support. The price has come back to the longer term support line (blue dotted line). A very interesting development in the US is the sell off on the Nasdaq (driven by AI stocks) yet price support in the Russell 2000.
There are many reasons for the market volatility and uncertainty, I am sure you know them all. The most important things to watch in my opinion is price and volume on the charts. At the moment the chart above still looks quite strong, sure, its had a sell off buts its been on a tear for some time and markets do not go up in a straight line.
The commodities are rallying and Australia is a commodity based economy. Its going to be interesting to see how it responds to the rotation of funds (Tech to other industries) affects the Aussie market and economy.
Have a good week
Peter
PS: I used candles in the chart for a change, I am aware many people use candles now rather than bars, let me know what you think at This email address is being protected from spambots. You need JavaScript enabled to view it.