I know it's a simple idea, and in 2020 the pattern has printed faster than it did in 2008-2009, but my gut is telling me history will repeat...
I'm not going long untill June or July. This will be when the market forward prices the September 2020 end to the temporary Jobkeeper scheme and the Jobseeker payments reverts back from $1100 fortnightly to $550 per f/n.
There's no doubt the Australian economy and share market has seen impressive continued growth up until March 2020.
It's clear from around 87 - March 2020 there market has been in a positive trend, with a rough support line, which is has only briefly dropped below in the 90's and notably in 2009 where it seems to hit a secondary support line in red.
It's clear...
Bearish reversal thoughts
5k at 0.618 would be strong support. Assuming same recovery timeframes from 2008 financial crash.
Happy to sit in property and infrastructure until i see monthly RSI turn up.
