Friday, 28 November 2014

ASX 200 at key juncture, eyeing big break lower

4 hour chart first, including after hours trade. Given that the weekly chart trend is down and the daily chart trend is turning down, a break of trend line support at today's low could trigger some fierce selling.



Daily chart, trend turning down.



Weekly chart trend is down certainly so long as this week's high holds.

 


Monthly chart Elliott Wave count and scenario, speculation for now but will firm up with every passing day that the weekly chart trend remains down.