You do understand that all markets are differentThe xjo (asx200)...

You do understand that all markets are different
The xjo (asx200) is 80% of our market & our top 10 stocks make up 50% of the xjo
Also the US & UK make up almost 50% of foreign investment in Australia
So I also keep track of the ftse to see if market conditions are going to affect the asx.
(the last I checked but could've changed)
US markets have the nasdaq, sp500, Dow Jones, Russell (small caps)
All made up of different components

But generally, the US is the market
The world economy revolves around the US
It was only up 0.2%
Not much different than thursday
The closest correlation I find the xjo has with the US is the small caps

The xjo made the assumption that the US would pullback friday night & everyone was shorting (you can see that from 4am Friday right through until they gave up at 11pm our market was being sold)
You can see the xvi (asx version of the vix) climbed all day
That could assume profit taking for the week
Whereas the US vix opened high but kept falling (they've maintained the short squeeze)

Atm, the asx got it wrong
BUT
If the US vix gaps up tomo morning so it matches our xvi, then we have got it right & the US will sell down tomo night to match us
So that means we will be sitting at support tomo waiting for the US to trade
If our market ignores futures & decides to correct itself to match the US (if the US vix hasn't gapped up), we will open at support but climb all day & close flat or even in the green (ignoring futures, creating a new set of data points)
Then when the US trades Monday night, we are back in sync again & the market continues
That option assumes there is no change to US markets from friday night
Now if you have a whole bunch of bears that try short the market tomo when we gap down, but the market reverses, they need to cover & quickly
So we can get a big green day even if it looks like we will open in the red.

Monday is the hardest to predict as we don't know what market conditions look like until then
All other days usually have 24hrs of market conditions & changes that can be tracked
That's why I mentioned 7930 on the xjo we had to close above on friday
Tomo support will be at 7910 & bulls will need to break through 7970 to maintain our uptrend this week
Otherwise markets can just grind lower all week
I do expect some more turbulence this week