ASX 200 & All Ords selling pressure

The ASX 200 is testing medium-term support at 5150. Breakout would indicate a correction to 4900. Reversal of 21-day Twiggs Money Flow below zero — and the longer-term bearish divergence — warn of selling pressure.
ASX 200 Index

* Target calculation: 5150 + ( 5150 – 4900 ) = 5400

The All Ordinaries weekly chart displays a longer-term bearish divergence on 13-week Twiggs Money Flow. Expect a test of the rising trendline at 4900.
ASX All Ordinaries Index
The Large Cap ASX 50 rising faster than the ASX Small Ords confirms this is not a typical bull market. There is a high degree of risk aversion and sentiment of retail (mom+pop) investors is more accurately captured by the Small Caps index which represents the ASX 300 excluding ASX 100 stocks.
ASX 50 Index