Sunday, 10 April 2016

ASX 200 favour the downside for now, but be wary of further chopiness

ASX 200 daily chart including all sessions trade. Favour the downside while the nearby down trend line caps price. Last week I illustrated a bearish scenario akin to 2008, but really the choppiness of the current decline and the entirety of trade since last August does not make that scenario (or any) a high confidence proposition. Also I must take in to account my medium term bullish view for US stocks... if that view proves correct it is likely that the ASX 200 will rally or at least hold up in sympathy. Let's see.

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