Below is a weekly chart of the S&P/ASX 200. "This correction...

Below is a weekly chart of the S&P/ASX 200.

"This correction from the +5800 area may not be over yet as there could be another 100 pt PB to near the 5575 - 5610 S/R area"

The S&P/ASX 200 continues its PB since its recent BO above 5800. Weekend sentiments had me thinking since we've had a good rally since the election - that this index may correct to near 5600 before another assault is made on 5800. Weekly momentum still remains bullish increasing.

The MACD formed a bullish UC several wks ago since w/expanding +ve histogram. Bullish weekly momentum may start to reduce if PA this wk continues to fall. Stochastics formed bullish HL's since Q4 and recently re-entered the bullish continuation region. Bullish increasing although at a slower rate compared to late-Q4.