In that post I said:
Trend channels were very popular during the bull market as a tool for projecting targets. They also be applied in a bear market.
The following long term chart illustrates those points more effectively than the shorter term chart I included in the earlier post. Instead of the ASX 200, it shows the All Ordinaries index, chosen in this instance due to the availability of a greater amount of historical data for the All Ords. The ASX 200 and All Ords of course track each other very closely.
The chart also illustrates that this year's decline has left behind the old bull market trend channel, providing additional evidence for the bearish case.