The ASX 200 found support at 5380/5400. Recovery above 5470 would break the descending trendline, suggesting that the correction is over — and a test of resistance at 5540/5560 likely. But 21-day Twiggs Money Flow whipsawing around zero indicates indecision. Respect of (or a false break above) 5470 would suggest correction to 5300.
* Target calculation: 5550 + ( 5550 – 5400 ) = 5700
ASX 200 VIX making new lows, however, indicates a bull market.
