Short ASX - Recession inbound

ASX:XJO   S&P/ASX 200 Index
ASX topping out, creating multiple bear divergences within a large, multi year bear flag .

Orange line = height of ASX pre gfc .
Red line = pre recession support
Blue lines = first lot of targets.

Along with the housing bubble, potential future issues with loan repayments (i.e. those who took out interest only loans), along with the flat cash rate and wages not meeting inflation and gosh so many other things, Australia's recession may occur in 2019 with major repercussions in 2020.

I am not a financial advisor or some analyst of any kind. Just a guy who's interested in macro-economics. Whether I am right or wrong, it would be very interesting watching the next 2-3 years unfold.

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