Howdy, I think it is always worthwhile taking a look at the...

Howdy,
I think it is always worthwhile taking a look at the monthly chart particularly when smaller time frames are as messy as the current one.  

I may be totally wrong but I think the US bull is far from done and I think it unlikely that the Oz market will have a serious pullback whilst the US remains strong.  

We do have some major timing coming up in a couple of months re 10 15 & 30 year cycles so that may put a dent in my thinking.

Anyhow below is a monthly XJO chart. Gann's divisions of high or low prices has proven it's worth and as can be seen there is currently good support at 50% .  The June 2017 low is 144 months from the May 2005 low (not shown on chart).

My take on the current sideways move is price got ahead of time so it moves sideways. Maybe the repeating trendline will signal time is about up.

Perhaps it is food for thought for some.
All the best ...