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.
Friday, 1 August 2014
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.