See charts below with an On Balance Volume indicator and the Money Flow indicator
Well it was an interesting week for sure! Price continues to rise and the volumes look strong, in fact both the volume indicators are leading price - as you can see from the fact they are both breaking their down trend lines to the upside. Also there are 5 new 52 week closing highs this week, see below.
I notice some strength too in the lower end of the market, namely the Small Ords. Mind you it is still in a downtrend but volumes are increasing and it looks promising. Will we finally get a broad based rally? Too early to say but the bears have certainly been pushed back into their caves for the time being.
I have recorded a video discussing the markets in more detail, if you want a look click here.
Have a great week
Peter