Monday, January 18, 2016

SPASX200 Australia ASX 200 Daily Chart Near -20% Bear Market

Australia's ASX 200 is tumbling into a bear market. Price formed a quadruple-top at the 6000 level so a -20% move off the top is 4800. The SPASX200 drops 34 points today, -0.7%, to 4858 (the chart is  not yet updated) shown by the purple dot. The LOD is 4804 a hair from the 4800 bear market but close enough for government work. The blue line shows the -10% correction territory off the peak at 5400 and the red line shows the -20% bear market off the springtime peaks at 6000. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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