The ASX 200 rally appears more tentative than North American markets. Expect strong resistance at 5450/5460. 21-Day Twiggs Money Flow holding above zero, however, indicates a healthy long-term trend. Breakout above 5450/5460 would signal an advance to 5800*. Breach of the rising trendline, however, seems as likely, and would warn of another test of support at 5300 and possibly a stronger correction.
* Target calculation: 5400 + ( 5400 – 5000 ) = 5800
ASX 200 VIX below 12 indicates low risk typical of a bull market.
both xao and xjo show inverse flag which points to savage down move. confirmed by very low new highs recently
I’d like to see a bit more trend (beforehand) before I call that a flag.