Friday, 1 August 2014

ASX 200 turning lower at long term trend line resistance, peaking?

Weekly chart shows the ASX 200 testing long term trend line resistance. Peaking? Keep an eye on the US markets, of course, which look to be beginning a 60%+ decline. Chart includes overnight trade through to breakfast, Oz time.

Dow bearish megaphone pattern has peaked, indicates that market is set for a 60%+ decline

Monthly chart shows the Dow has completed a false break above the upper trend line. This signals the peak of the illustrated bearish megaphone pattern and indicates that a decline to below the 2009 low is beginning. That suggests a greater than 60% decline on the Dow over the next year or two.