Australian Stock Market Primary Cycles
Before continuing to read the rest of the report, please read the US market report. (click Link)
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.
In conclusion:- 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
Those LONG positions can be validated using patterns clearly described in my book. MARKET TRADING MARKET TIMING 'Time Price Support Resistance.
If it's a robust Support zone, then next UP leg should be taking out the February highs in late MARCH early April
