Clearly the rally prior to the holidays negated the previous idea, so a mixed picture on the weekly time frames
Short term it looks like a potential 5 wave impulse (ugly but got the right look)
So a bit more upside to end a 5 wave advance, then we should at least see a pullback to correct this rally from 5028
The FTSE has a similar look and the XJO and FTSE tend to follow each other
A move towards 5400-5450 would be an ideal spot to see a reversal back towards 5200.
elliott wave analysis of xjo & spi, page-65
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Last
7,829.7 |
Change
66.500(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,763.2 | 7,832.3 | 7,763.2 |
| XJO (ASX) Chart |