{"id":65330,"date":"2015-06-29T10:00:10","date_gmt":"2015-06-29T00:00:10","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/06\/29\/has-the-asx200-broken-down\/"},"modified":"2015-06-29T10:00:10","modified_gmt":"2015-06-29T00:00:10","slug":"has-the-asx200-broken-down","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/06\/29\/has-the-asx200-broken-down\/","title":{"rendered":"Has The ASX200 Broken Down?"},"content":{"rendered":"

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

Fresh break lower, or is the market finding a foothold?<\/strong><\/p>\n

Break lower \u2013 The assumption is that the market is trading in the\u00a05th wave of the\u00a0decline from 6000 after breaking below the two week trend line. We have two targets in mind for the bottom of the 5th wave. The trend line\u00a0break is 5425 (height less break point) while the wave count target is around\u00a05300 (i.e where 5th = 3rd).\u00a0The\u00a05th wave approximating the 1st cannot be applied in this case\u00a0given the 3rd cannot be the shortest wave. Trading above 5600 for more than two days negates this view.<\/p>\n

Foot hold \u2013 the market has completed a corrective move lower from 6000 to 5425\u00a0given the three wave structure. Therefore the recent\u00a0decline is simply a correction which should last around 5 days (b wave)\u00a0before\u00a0another rally towards 5800\u00a0(c wave). This view is contingent on the market remaining above 5425 and pushing back above 5600 within the next week.<\/p>\n

\u00a0<\/p>\n

\"\"<\/p>\n

\nAnother trading idea from<\/strong><\/p>\n

Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/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

\u00a0AFSL 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 the next few days trading will determine whether the ASX200 has corrected or broken down once more.<\/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\/65330"}],"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=65330"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65330\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}