Tuesday, 20 August 2013

ASX 200 testing trend line support

Daily chart includes after hours trade and shows the ASX 200 testing trend line support. A break of the intraday low would complete a bearish wedge and target a test of the June low.

Nikkei slices through trend line support, early days in another 60%+ decline?

4 hour chart shows the Nikkei futures slicing through trend line support.

Zooming out (a lot) to a long term monthly chart shows the Nikkei turning lower from trend line resistance. The previous two occasions that the Nikkei turned down from the same trend line saw it decline 60%+ in the subsequent year. Will history repeat?