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
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
8,285.2 |
Change
61.200(0.74%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,224.0 | 8,285.2 | 8,224.0 |
| XJO (ASX) Chart |