Let it go......Friday, page-26

To ponder over the weekend ...

Further to @maxi48 's posting ... https://hotcopper.com.au/threads/excorporates-monday.3392943/#post-25454220 ... where he pointed out that so far we haven't gone above the 38.2% extension of the 4706.70 Feb. '16L to 5611.20 Aug. '16H, and to add weight to that, is that this same level(38.2%Fib ... 5957) also had numerous other Fib MM's running in at the same level(on 'cycles' timing on the SPI).

Now, I've posted this chart B4 ... way back in early May sometime ... and, whilst we have had increasing volatility since then, nothing has changed my opinion that we should see lower prices from present levels. I do, however, want to see 'value' below 5611 soonish and rallies restricted to below 5835 to validate the view that we could likely see the 5400/5350's before any real support is shown.

I have 'added' one (yellow) // TL to this chart and its represents the median line (50%) for the yellow channel shown(like a modified Schiff Pitchfork) ... Note how the last 2 weeks action has been supported by this(and the 195sma).