[[Start here]] → [[Journals]] → 2023-06-03 --- The FTSE AIM All share has just fallen 40% from its high (since the top in July 2021). It's still beneath its 30 week moving average, which isn't bullish. Downtrend still firmly in place. The October lows aren't far away. ![[aim-40-percent.png]] I've been looking at the valuation using our archive data @Stockopedia. The market is cheaper now than last October, and cheapest for a long time. But given the sharp rise in interest rates, I wouldn't call it a bargain. Anyway it seems it's very much basing. As we know from Weinstein, [[share prices exist in four stages]], and right now it's looking like a new Stage 1. ![[stage-1-2023-06-03.png]] For any confirmation of a trend change, we need to see a significant, higher volume push above the 30 week / 200 day moving average. We aren't there yet, but let's see how we bounce from here. --- This is the [[Journals]] for 2023-06-02. #FTAI