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Always good to take a peek at the big picture. But I am never sure how to make money from it in the short to medium term, nevertheless I always think it is a good thing to do.

The run up on the SPI200 had been quite strong since the low in mid March, until the May 19 top (6004).

A common misconception is that in order for a trader to be profitable, we MUST buy very close to the bottom of the market, and we MUST sell very close to the top of the market.

After a shocking week previously, the US market managed to regain some lost ground through to Thursday despite a raft of disappointing economic data results.

Well not yet but it is possibly only a matter of time. Let’s go straight to the chart and see what we can glean.