S&P/ASX index of Australian listed shares

DOW vs ASX nearing ATH of 2000 Tech bubble. History may not repeat but sure can rhyme

Im expecting a 5 wave move to the downside. Wave 2 looks to be complete finally after a complex flat unfolded. A break of the lower trendline is confirmation a wave 3 down has begun.

Anytime you see major divergences between price and OBV it's tended to be an excellent warning of major market moves with the ASX200. Not perfect but a nice guide. Australia's ASX200 is weighted towards banks and resource stocks. The CBA Australia's largest bank and company on the ASX is in serious trouble with the federal regulator. The other major banks are ...

The other thing to watch is for a divergence on the 3/10 oscillator. This is strong at the moment, calling for a higher high to the next swing high a few weeks ago.

Critical area at the top now. Watch for large volume spike which could reverse the direction. Also this is a great place to trap bulls when the price breaks just above and then reverses direction. Interesting to see that the volume at the swing low was greater than other swing lows. 5820 and 5840 are key levels here to watch

ASX200 looks firm now!

Watch this go higher. ABC pattern to the last swing low where huge volume turned up.

SPI - Huge Breakdown Potential

ASX Sell

The Weekly can't break, so odds are it's going to continue up. Most Likely Touch the highs then come straight back down to test again. if it can break that trend line expect a downtrend to begin

Short

Price Action has bounced off Kumo Cloud with Chikou Span also breaking confirming Bearish Trend. B wave complete and entering final C wave. C wave finishes with completion of Bullish Shark/Cypher pattern.

I still want to trade for the downside, but the corrective pattern seems unfinished and I could not find a good place to position a short trade.

Price has slowly been falling for the past few weeks. It just broke it's intraday ascending trend line. I'm waiting for price to break it's demand zone for further confirmation.

Look at the Weekly, Monthly. There's more probability it's going to make new Highs, then start a downtrend. Momentum on the Daily is now at 0. That means it's a change in direction. It could keep going down but the Odds are it's going to follow the TREND

Watching how this triangle structure forms on the 4 hour. There are a few possibilities for development, but once over expect a move down to daily trendline and possible more correction or start the weekly move down -- its all in the chart. Happy Trading

Watch this breakout, then SHORT!

Consolidation is developing under the trend line, SHORT from the top.