Primary & Weekly Cycles
If we subscribe to the Primary Cycles Bear Market Patterns, then we are looking for October lows to fail and then for the trend continue down towards new lows in 2021.
With Trump going into Hospital with Covid-19 after Future Markets closed, it will be interesting on next week's open, and enough to spook the markets.
The 3rd Quarter has always been the Secondary Cycle that sees the next wave downwards.
Whilst the US markets and the Australian Market don't align, they will if US markets continue lower (read US Report)
We can see in the Forward Primary Cycle in 2021, if price doesn't sell off, but continues to remain supported in 2020 above the Yearly lows (5703), then next year's 50% level will define whether the Aussie market goes higher or not.
If looking to be a BUYER in the Aussie Market, I would sit it out until next year
