Australian Cash Market XJO Monthly
The Australian markets continues to cling to the Monthly highs, whilst US markets push higher in MAY.
Finally the US markets have reached their MAY highs, and 'hopefully' things begin to move back down into Support.
Why Hopefully?
Because there is a larger Primary Trend reversal pattern towards the Yearly 50% levels, in the case of the Aussie market 4400+
Therefore my ideal pattern would be for price to reverse down into Support Monthly 50% levels and then look for a 3rd Quarter higher move towards 4400.
I would hate to think that markets continue to climb towards the Yearly 50% levels, clinging to each Monthly high as they dynamically move higher each month without providing a retest of support.
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