article 3 months old

Downside Risk For ASX 200

Technicals | May 19 2014

By Nick Linton-Ffrost

Emerging Sell

We are working on the assumption that the XJO has failed to run after breaking out of the six month trading range which improves the odds for a pull back to 5350 and potentially 5250.

Our near term wave count view assumes the rally from 5410 to 5510 (b wave) is complete and the market should grind lower towards 5350 over the next 7-10 days.

Technical selling on the back of the line break should be triggered with a move below 5460-5470.

Stop on view with a move back above 5520.


Another trading idea from

Fifth Wave |                                               

FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience.

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