Lets start off with some very obvious Australian fundamentals.
1) Australia's economic life blood is it's housing market that directly and indirectly provides jobs for a majority of Australia's population, and the property market peaked in 2017 contributing to a weaker economy instead of a stronger economy for the first time in more than two decades.
2) The RBA...
The median line of this Schiff pitchfork has proved strong resistance for this index twice since 2009 has lead to healthy declines each time it's been hit. 3rd time lucky to break out or not.......?
ASX 200 has been rebounding well from late-Dec of 2018.
It has been continuously climbing higher and higher in recent months.
Now, it is constructing The Infamous M-Peak (Double Peak), with a very first target of 6530, then 6320.
Since February 2009, there is an upward wedge of the heels of the wave. As a rule, a wedge is a reversal pattern with the target of starting a wedge. In the long-term perspective, a return is expected to the levels of 2009, more precisely 3200
I posted this trade idea a couple weeks back about the ascending wedge in the xjo, the 6500 handle has presented itself again. Target areas could be seen at 78.6% Fib level or Support 1 for closer targets.
Daily - Looking for a Double top in the market, possible slightly up this week as StochRSI showing upward momentum
A labour win will see this drop - possible market doesn't like change especially if a Government changes the market.
Weekly- Stochastic RSI crossed below the 80 on the close
Vix Fix showing a top
RSI up high but not overbought yet
Hi All,
Perhaps a controversial post but will share the idea nevertheless for posterity. This is not meant to be an alarmists post simply a technical analysis with possible graver implications.
Before we get into the TA lets provide some background first.
Black Tuesday 1987. The market crashes 50% from its all time high. It takes 9 years and 1 month to...
The ASX has created a head and shoulders pattern and is capped by a negative trend line.
This provides opportunity to sell with a stop loss above 6210 and the target area of 6140.
It has completed a retracement back up to 6274 (0.886% fib level) of the move down from 30/08/2018 to 21/12/2018. It is now forming a H & S pattern on the 4 hour chart. Watch for a break of the neckline on bearish sentiment or a bounce back up if the neckline holds. Current RSI below 50
The ASX has formed a shooting star on the weekly candles.
We are now awaiting confirmation, this weeks candle will need to decline and close below last weeks candle.
We can then look for targets of 6100 and 6000.
Completion of reporting season which followed after the financial sector royal commission.
Will start to see profits taken from this months small rally before a second chance of accumulation will present to target the prior top
Rising Peaks and Troughs clearly defining the long term trend of ASX 200,XJO. One may also use 45 degree trendlines, if they can construct it with the software.
Completed base and clear long term count with a bullish price objective as shown. This bullish objective/forecast is still in effect, until a new low lower than that of 4750 is registered by 53.2...
The S&P/ASX200 is an index that represents the 200 top stocks based on their weighted market capital in the Australian stock market "Australian Securities Exchange". The index represents 72% of the total market value of all the stocks traded in the Australian Securities Exchange. The trading hours for the ASX 200 index takes place from 10:00 a.m. to 4:00 p.m. Sydney time. This index was created back in 2000 and it started with a value of 3,133.3. The 2015 market capitalization of the index amounts to A$ 1.1 trillion, which sets it around the same market capitalization with some of the major indexes of Europe. The ASX200 is an indicator that gauges the performance of the Australian stock market and this indicator could be used as a guide by investors that want to understand how the biggest economy in Oceania is performing.
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