Im going to say if any drop occurs it will be based off a technical completion pattern.
This is a good site from an elliot wave perspective:
http://danericselliottwaves.blogspot.com/
The rally from the March lows was always on the cards to suck people back into the market, the only questions were:
1. How high was it going to go?
2. How long were they going to keep it inflated for?
There are number of factors to suggest that we are in a new bull market, but to me there are even more factors to suggest that we are in the topping process of a bear market rally.
The system is broken, printing money in order to keep the house of cards from collapsing is a flawed approach.
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Last
8,554.2 |
Change
-76.100(0.88%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |