##{"id":65738,"date":"2015-09-28T10:32:33","date_gmt":"2015-09-28T00:32:33","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/09\/28\/new-low-approaching-for-asx200\/"},"modified":"2015-09-28T10:32:33","modified_gmt":"2015-09-28T00:32:33","slug":"new-low-approaching-for-asx200","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/09\/28\/new-low-approaching-for-asx200\/","title":{"rendered":"New Low Approaching For ASX200?"},"content":{"rendered":"

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

Major low expected over the next 2-3 weeks between 4600 and 4800<\/strong><\/p>\n

We suspect that the market has or is near to completing a major low after it’s 20% five month decline from 6000. Our best guess is for one more leg lower\u00a0towards 4600-4800 and the formation of a major low around early to mid October. This is when we suggest investors step in and do some bargain hunting.<\/p>\n

Our 5th wave view has the market falling into strong support provide by two longer term technical levels.\u00a0The trend line up from the GFC low at 3000 and the 2001-2002 highs (top of major wave 1)\u00a0kick in around 4600-4800.<\/p>\n

Out two count assumptions are outlined below and both imply a bounce is on the cards. We\u00a0favour the five count lower\u00a0given the lower highs and flat lows exhibited by the market over the last month.<\/p>\n

Five count lower from 6000 = drop to 4600-4800 followed by a rally to 5250<\/strong><\/p>\n

\n
the move lower from 5700 to 4800 is the third wave within a decline from 6000<\/li>\n
the last 30 days\u00a0trading has formed a 4th wave (triangle pattern) where a break below 5000 implies 4800 and potentially 4600<\/li>\n
4800 is the\u00a0previous low at 4800\u00a0and\u00a04600 is the triangle\u00a0target<\/li>\n
the 5250\/5300 bounce target is the top of a minor 4th wave (not shown on chart. Refer to last weeks note)<\/li>\n<\/ul>\n
View contingent on the XJO remaining below 5250 and dropping below 5000\u00a0within the next 3-7\u00a0days.<\/p>\n
Correction from 6000 completed it’s move at 4800 = rally to 5500<\/strong><\/p>\n
\n
the “C” wave within the decline from 6000 has\u00a0completed it’s move at 4800\u00a0where “C” approximates “A”<\/li>\n
bounce from 4800 to 5300 is the 1st wave\u00a0and the pullback to 5000 is the 2nd\u00a0within the bounce to 5500<\/li>\n<\/ul>\n
This view requires\u00a0a\u00a0break above 5200 within the next 3-7\u00a0days.
\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 ASX200 is shaping to break down through 5000 but a low will then be established.<\/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\/65738"}],"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=65738"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/65738\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=65738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=65738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=65738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}