The chart below contains 4 of the most important market cycles IMO.
H & L's indicate a few major highs and lows but I leave that for any one to study but check both local and US markets. For instance April 1994 was major in the US but not so much here etc.
Anyway I am trying to relate 1989 to 2009 and the cycles at the end of 1989 said down we go.
Yes we had the beauty of 3 cycles turning down together with one already down. This time we seem to have 2 already down with 2 turning down.
The following cycle lows don't sync as well as they did in 1992 or 2002/3 perhaps so picking a best low is harder.
The chart below contains 4 of the most important market cycles...
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7,889.6 |
Change
72.800(0.93%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,816.8 | 7,902.6 | 7,816.8 |
| XJO (ASX) Chart |