The Market Can Remain Irrational Longer Than You Can Remain Solvent 2 TP targets. Fibonacci Ext.
Mapping out the exact waves in this ending diagonal in the Australian Stock Exchange. Wave v is breaking back into the AriasWave pitchfork channel and will soon retest in Wave E of Wave (B) of this Expanding Type-2 Zig-Zag. Once the final high is made just above the purple line and then dips back below it this should indicate a top. Once it breaks back down and...
see chart. one recent fake out and a number of attempts to get out of the historic range.
High risk in markets at the moment. Fundamentals don't support the current recovery (although we know it doesn't have to). Watch this zone, if price falls below could be the start of a larger pullback.
The overall market has been extremely bullish in the later part of 2020, however, MACD bearish divergence is starting to present. I'm thinking that this suggests that the trend may slow leading into 2021 or a bearish move is on the cards at some point. Will watch closely. A similar divergence persisted in 2019 and into early 2020 which resulted in the bearish...
The broad ASX All Ordinaries Index (XAO), since the beginning of November 2020, shows the underperformance of previously overperforming Midcap (XMD) sectors of Information Technology (XIJ - note particularly the high flyer Afterpay APT) - and Mining (XMM) to a lesser extent.
This market just needs to make one more all time high to complete 5 Waves up since 1900. Cycle Wave 1 1900 - 1913 Cycle Wave 2 1913 - 1920 Cycle Wave 3 1920 - 1967 Cycle Wave 4 1967 - 2009 Cycle Wave 5 2009 - 2020\2021 Alternation between Wave 2 and 4: Wave 2 shallow sideways and short in duration. Wave 4 expanded to the upside and long in duration. Wave 5...
IFT Infratil (ASX listed) vs. ASX listed global infrastructure ETFs, ASX All Ordinaries Index, NZ50 Index - since 2017.
Been speaking about this Index Heavily, this movement is to be expected & I’ll explain why. - This Demand Zone that we are moving through today was a 4H Demand Zone, it was Low Quality, meaning there is levels underneath it that are formed on Market Pivots, which yield Higher Quality Demand Zones - There are a number of Levels in the way of the Main Demand Zone...
Sector Indices vs ASX All Ordinaries Index show earlier deterioration of the market throughout August (whereas XJO only starts to deteriorate from Aug 28): in the largest 20 companies of the XTL index, in Communications XTJ, Resources XJR, Materials XMJ, Financials XXJ, Consumer Staples XSJ, Utilities XUJ. See next "Idea" for the sectors that prevented the XJO...
Could be an Ascending Triangle breakout on the XAO. Ties in with easing of restrictions in Vic. 6600 should be plausible at the very least.
hey traders, looking at the weekly c wave to be playing out now. look for sells.