##{"id":66107,"date":"2015-12-21T10:30:28","date_gmt":"2015-12-20T23:30:28","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/12\/21\/asx200-ground-hog-day\/"},"modified":"2015-12-21T10:30:28","modified_gmt":"2015-12-20T23:30:28","slug":"asx200-ground-hog-day","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/12\/21\/asx200-ground-hog-day\/","title":{"rendered":"ASX200: Ground Hog Day"},"content":{"rendered":"

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

Ground Hog Day: Pivot levels remain around 4900 and 5150.<\/strong><\/p>\n

The question remains, is the last four month trading range a bottoming or continuation pattern? We suspect that a few days trading above 5150 may signal a bottoming pattern has formed. The implication would be for a rally towards 5900 over the proceeding 1-2 months.<\/p>\n

Whereas a few days trading below 4900-4925 would turn in favour of a move to 4500 over 1-2 months and potentially 4300 over 5-7 months.<\/p>\n

Downside case<\/strong> – a break below 4900 brings the following wave count assumptions into play –<\/p>\n

\n
we mark the decline from 6000 to 4950 as wave (A) and the 2 mth trading between 4950 and 5400 as (B)<\/li>\n
the dip from 5400 to 4950 is the minor first wave and the bounce back to 5300 is the second waves within a (C) wave to 4300-4550<\/li>\n<\/ul>\n
The 4500 target = 4900 break point less height of 4 month pattern and 4300 is where (C) = (A)<\/p>\n
Upside case<\/strong> – break above 5150 triggers turns odds in favour of bottoming pattern given –<\/p>\n
\n
trading above the 5150 midpoint of the 4 mth pattern is a sign of strength and reinforces the 4900 support level<\/li>\n
and indicates that the decline from 5400 to 4900 was another corrective wave (abc) within the bottoming pattern<\/li>\n
trading above 5300 breaks above the 2 mth and the 7mth down trend lines and should trigger a move towards 5900<\/li>\n
5900 = height of pattern added to 5400 break point and also equals height of trend channel added to 5200 break point<\/li>\n<\/ul>\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 suggests the pivot levels for the ASX200 remain at 4900 on the downside and 5150 on the up.<\/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\/66107"}],"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=66107"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/66107\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=66107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=66107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=66107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}