Thursday, 10 September 2015

ASX 200 pushing below trend line drawn from 2009 low, toward 2500 over next 12 months

Monthly chart for all sessions trade of the ASX 200. Log scale, which I favour over arithmetic for this market as it allows neater trend channels to be drawn. Charting is an art. There is no universal right or wrong. Whatever works for the individual. You pays your money (and you takes your chances). Wave C and the target of 2500 both no doubt look outrageous to most, but the structure looks clear to me as the most likely for the coming year. I'll change my mind if the market provides evidence that I should. Let's see.

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