If i had my way (yeah like thats ever going to happen lol)We see...

If i had my way (yeah like thats ever going to happen lol)

We see a dip hold above 5320-30 for wave [iv], then a new yearly high.

Thats the ideal scenario, however there is the potential the US markets have put in a peak, (too early to say yet it needs a big ass puke under 1735SPX to be sure.

If see follow through from this gap down in the US, then potentially it will drag the SPI futures lower in the Globex session, which come the cash session open, will be close to the danger level of 5267.

However if the US traders can hold support at 1740SPX and run it to a new all time high, then we should get the new high and complete the idea in black.

So if you are bullish get your pom poms out and support the the US traders to hold 1740SPX and push it higher.

If you are bearish, get the voodoo dolls out and start sticking in the needles and look for a big ass puke under 1735SPX.

But we might be forced to accept a "forced" peak if the US markets have a bad day today (well good for the shorts).

Nothing changed, IMO we are setting up for a big move lower in risk markets as per my work, but i think many know that already.

DYOR