Tuesday, 22 September 2015

ASX 200 brutalised in after hours trade, approaching 5000 and short term trend line support

Monthly chart shows the ASX 200 pushing lower through trend line support, and illustrates the aggressively bearish Elliott Wave count that I think best fits market action. Charts include all sessions trade, with the market currently down around 1.4% from Tuesday's ASX close.



Weekly chart zooms in to better show the market pushing lower through trend line support.



Daily chart shows the market approaching another test of short term support around 5000. A break of that support should see the market put the bigger picture trend line well and truly in the rear view mirror.