Australia Stock Market ASX 200 Primary Cycles
TEXT BOOK sell-off in the Aussie market at the start of January, and we now have both the Australian Markets and US markets in synch. These SELLOFFS at the start of 2016 have all the hallmarks of forming a Double Bottoms around the 2016 Yearly lows.
I've been calling this downtrend into MARCH lows as the next time to move into LONG positions, which coincide with the 2016 support zone
I've been calling this downtrend into MARCH lows as the next time to move into LONG positions, which coincide with the 2016 support zone
Text book Break & Extend pattern (Dilernia Principle) from the 3rd Quarter breakout into the 1st Quarter Target of 4751 will complete most likely on Monday Morning.
Along with similar moves in US markets, there's a good chance the BUYERS will begin to move into the markets next week, but it's WAY too early to be saying a NEW UP trend will occur, as it hasn't follow my TEXT BOOK bottom in MARCH, but it's a 'double bottom' nevertheless
However, there's a pattern in US markets (READ US Report) that might stop January rising to quickly.
