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7,793.3 s&p/asx 200

I could of missed out the most correlated part of that XJO...

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Neo

2,195 Posts.

28/08/15

13:52

Post #: 15894269
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Originally posted by Neo ↑

Here's an updated DJI with a further look back.

View attachment 91111

You are right though, markets do often end after blow off tops. The XJO pre GFC was a good example- however the push down in the XJO from 2015 highs has already exceeded the final push down before the 07 top(-14.8% vs -17.8%)

Here's a similar( less convincing) scaled chart using the XJO from the same period based on the closing price. I'm calling this one the "Martis Cross" where "X marks the spot"- which sounds exactly like something he would say.

On a more serious note there's some real potential weakness in this market, both technical and fundamental. A failure anywhere around the X could be a nice short setup. What i'm really interested in though is how volume is being distributed, but I don't have historical ASX tick data to have a real look.

View attachment 91115

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I could of missed out the most correlated part of that XJO chart- the 50%. The last retracement before the real down move.

XJO Value at posting: 5,256.9
4 Upvote

0 Great analysis

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