There is a 62 month cycle on XJO and this May was a high in the cycle like Sep 1987.
The first chart is of 1987 with 19 days down before crashing. It took those 19 days to get 2 closes below the purple ma which is my handwritten one then it crashed.
The second chart is now and it has only taken 10 days to get 2 closes under the purple ma.
I CAN ARGUE THAT CRASH DAY IN 1987 was the peak day of Armstrong cycle leg 1 up and so there was nother left to hold it up and the other major cycles were already pointing down.
This is not the case here but still a worry of some degree.
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Last
8,570.4 |
Change
-9.700(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,580.1 | 8,593.6 | 8,558.3 |
| XJO (ASX) Chart |