Everything points to us being in an equities bear market now. The October rally failed neatly at the head and shoulders neckline after which it formed a symmetrical triangle. The downside break from that confirmed the bear bias now gripping the market. The rally of he past couple of days is unconvincing although a test of the traingle breakout at around 11700 is a possibility. Only a rise above the recent traingle top would negate the bearish outlook.
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