##{"id":65641,"date":"2015-09-07T10:58:26","date_gmt":"2015-09-07T00:58:26","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/09\/07\/asx200-at-critical-level\/"},"modified":"2015-09-07T10:58:26","modified_gmt":"2015-09-07T00:58:26","slug":"asx200-at-critical-level","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/09\/07\/asx200-at-critical-level\/","title":{"rendered":"ASX200 At Critical Level"},"content":{"rendered":"

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

5350 and 4780 are the levels to watch over the next 5-10 days<\/strong><\/p>\n

The question for us is whether or not last\u00a0week’s ASX200 (XJO) trading is part of a 4th wave structure which implies\u00a0a 5th wave to 4650 or has the market completed a correction which would improve the odds of\u00a0recovery rally to 5700.<\/p>\n

Bottoming\u00a0view = bounce to 5700 (Chart 1)<\/strong><\/p>\n

\n
major 4th wave lower from 6000 terminated at 4780 where “c” approximates “a”<\/li>\n
strong support between 4750 and 5000\u00a0will create a reversal level based on the<\/li>\n
strong reversal week at the end of August, the 6 year trend line and\u00a0top of a the 2010-2011 trading range<\/li>\n<\/ul>\n
View is contingent on the XJO holding above 4780 and breaking above 5350 within the next 5-10 days<\/p>\n
Continued downside = 4650 (chart 2)<\/strong><\/p>\n
\n
where the move lower from 6000 morphs into\u00a0five wave correction<\/li>\n
where the drop from 5700 to 4780 is a third wave which may or may not be complete<\/li>\n
if the 3rd is complete then last week’s trading is a part of 4th wave which implies a 5th to 4650<\/li>\n
if the third wave is still in progress then downside targets extend to 4400<\/li>\n<\/ul>\n
View contingent on the XJO remaining below 5350 and the move lower needs to start within the next 5-10 days or the market trades below 4900 for more than 3 days.
\n\u00a0<\/p>\n
$\"\"$
\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 what happens in the next week will determine whether the correction for the ASX200 is complete or whether there’s a lot more downside to come.<\/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\/65641"}],"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=65641"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65641\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}