Primary & Weekly Cycles
The pattern in the Australian Stock market is the classic BEAR MARKET pattern -
Moves up towards the previous breakout or 50% level in the following Monthly and then Sells down
ie. 5524 or as high as 5980.
However, only if the US markets follow, and they're being pumped full of money.
The big difference between the two are - the S&P 500 is heavily weighted by 4 companies that are still doing well during this Crisis, whilst the Australian Market, heavily dominated by Financials and Minerals are doing poorly.
I don't see any V shape recovery.
I see more weakness into 2021.
