We always look to the US for guidence as to where our market will head so here is a chart of the DJIA weekly.
Not all doom and gloom.
Going long when price reaches the the 50% fib line area at 1187 would prove to be a wise decision IMO
The s@p 500 has a 50% fib retracement of 1248 from the October low to the current high and a 61.8% fib retracement of 1207.
Watch these levels in the coming weeks
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 (20min delay)
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Last
8,589.3 |
Change
-13.700(0.16%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,603.0 | 8,617.0 | 8,572.1 |
| XJO (ASX) Chart |