##{"id":49375,"date":"2016-02-15T10:32:30","date_gmt":"2016-02-14T23:32:30","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/02\/15\/asx200-back-to-5400\/"},"modified":"2016-02-15T10:32:30","modified_gmt":"2016-02-14T23:32:30","slug":"asx200-back-to-5400","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/02\/15\/asx200-back-to-5400\/","title":{"rendered":"ASX200: Back to 5400?"},"content":{"rendered":"

By Nick Linton-Ffrost<\/p>\n

Why the market can bounce to 5400<\/strong><\/p>\n

The ASX200 may find a foot hold around 4650 and 4800 based on both long and near term bullish indicators. If a bottom does form we will be looking for a bounce to 5400 over the next 2-3 months.<\/p>\n

We have pulled out monthly, weekly and daily charts to illustrate our indicators however we require the following signals before increasing conviction on our call<\/p>\n

\n
Move above near term break level at 4900<\/li>\n
Higher low forming between 4650 and 5000 over the next 5-10 days<\/li>\n
Break above 5080<\/li>\n<\/ul>\n
Monthly<\/strong> Indicators<\/strong> (chart 1)<\/p>\n
\n
Target derived from break below the 4000 to 6000 trend channel = 4650-4800.<\/li>\n
trend line up from GFC lows at 3130 may provide a rough measure of support<\/li>\n
descent from 6000 to current levels may be a major 4th wave which implies a 5th wave bounce to come<\/li>\n<\/ul>\n
Weekly Indicators <\/strong>(chart 2)<\/p>\n
\n
we are marketing the top of the 4th around 5400<\/li>\n
the major 4th breaks down into five minor waves<\/li>\n
where wave ‘5’ approximates the length of wave ‘1’ around 4750<\/li>\n
indicates that minor wave (iv) and major ‘3’ have completed their move<\/li>\n
which improves odds for a bounce to 5400 based on 5th completion rule (rally to top of 4th once 5th complete)<\/li>\n<\/ul>\n
Daily Indicators <\/strong>(chart 3)<\/p>\n
\n
the overlapping structure in wave (v) indicates reduced downside momentum<\/li>\n
the break below the zig-zag rally from 4750 to 5080 implies a target around 4700<\/li>\n
this near term target achievement may be enough to create a turning point
\n\t <\/li>\n<\/ul>\n
$\"\"$ <\/p>\n
\n $\"\"$ <\/p>\n
\n $\"\"$ <\/p>\n
\nAnother trading idea from<\/strong><\/p>\n
Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a> <\/p>\n
FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27 years experience<\/strong>.<\/strong><\/p>\n
AFSL 319830 |<\/strong> Disclaimer<\/strong><\/a><\/p>\n
Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/p>\n
Technical limitations <\/strong><\/em><\/p>\n
If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.<\/strong><\/em><\/p>\n
Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Nick Linton-Ffrost of Fifth Wave draws on three charts to argue a possible bounce for the ASX200 back to 5400.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49375"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=49375"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49375\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=49375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=49375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=49375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}