Not sure if it'll help your decision making but its some thought...

Not sure if it'll help your decision making but its some thought to consider.

Ric Spooner, Chief Analyst of CMC - 9th November;  at 5300 at the time of writing.

A good sign of this more bullish interpretation will be if the index comes to rest at around 5100 or 5025 and then starts to move higher. These are the 61.8 per cent and 78.6 per cent Fibonacci retracement levels. They match up neatly with the possibility that the ‘bc’ swing on the chart below will be either the same size as or 127 per cent of the ‘ab’ swing. These are common occurrences that would be right out of the chartists play book for the completion of a correction. If we are in for an ongoing rally, the 200-day moving average and 78.6 per cent retracement level around 5560 looks a solid candidate as a potential objective over time.


http://www.businessspectator.com.au/article/2015/11/9/asx/reason-market-cheer

Happy Reading.

Jako and RB. Wise words. Am a fan of your work.