Tuesday, 26 April 2016

ASX 200 below 5200 would break trend line support, & begin move below 4000?

ASX 200 daily chart, all sessions trade, shows that a move below 5200 would break trend line support, and boost the chances that another decline had begun.



Weekly line chart most cleanly shows the wave count that I am working. It calls for a strong large degree 3rd wave decline to commence when wave C is complete, as it now could be, moreso if the daily chart support is broken. Big wave 3 must be no shorter than big (black) wave 1, so at least 1300 points, which would take the ASX 200 below 4000. Then big waves 4 and 5 would unfold to even lower levels.


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