What’s going to happen when the S&P/ASX200 hits 5000?

Resistance at 5000

Vive la résistance!

So, I’m a novelist but I also went to business school and think about money sometimes (okay, a lot of the time). At the moment the S&P/ASX200 (AXJO) is pushing up towards 5000. The last times it did this, in April 2010 and Feb—April 2011, it kept encountering resistance and ultimately fell back down. As recently as May 2012, it was only at around 4000. Sentiment in the economy is still relatively bad, so I’d bet on it failing at around 5000 and falling again. Anyone else have an opinion on this?

Author: Ben Hourigan

Ben Hourigan is a novelist from Melbourne, Australia. His books Kiss Me, Genius Boy and My Generation’s Lament are Amazon category bestsellers, and are available wherever good books are sold online. Ben also works as an editor, copywriter, and self-publishing consultant at his own firm, Hourigan & Co. For news and book release updates, sign up to his email newsletter.