##{"id":50427,"date":"2016-08-29T10:31:39","date_gmt":"2016-08-29T00:31:39","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/08\/29\/asx200-downside-looms\/"},"modified":"2016-08-29T10:31:39","modified_gmt":"2016-08-29T00:31:39","slug":"asx200-downside-looms","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/08\/29\/asx200-downside-looms\/","title":{"rendered":"ASX200: Downside Looms"},"content":{"rendered":"

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

Failed upside break turns the odds in favour of a move south<\/strong><\/p>\n

Last week's failed break above the previous nine day range (wave “ii”) for the ASX200 (XJO) is a minor indicator of weakness which may be enough to trigger the bearish view we mentioned last week.<\/p>\n

The bearish count assumes that the market has completed five waves move up from 4700 to 5600 based on the following indicators –<\/p>\n

\n
achievement of the target derived from the break out of wave 4 (green)<\/li>\n
resistance at the top end of the 7 month uptrend channel (red)<\/li>\n
where wave 5 approximates the length and timing of wave 1<\/li>\n<\/ul>\n
The implication is for a pull back to the following targets –<\/p>\n
\n
5425 (top of wave 3) over a period of 3-5 days<\/li>\n
5300 is the 4th wave break point (green) and bottom end of channel. Expected timing would be 2-3 weeks<\/li>\n
a break below 5300 would imply a dip to 5050 (bottom of wave 4)<\/li>\n<\/ul>\n
Trading above 5575 for more than two days negates our view.<\/p>\n
\n $\"\"$
\n <\/p>\n
Another 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 suggests failing to break above 5575 means the next move for the ASX200 is likely down.<\/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\/50427"}],"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=50427"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/50427\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=50427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=50427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=50427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}