The ASX 200 rallied on the back of positive sentiment from the US. Follow-through above 5360 would indicate the correction is over. Rising 21-day Twiggs Money Flow reflects short-term buying pressure. Reversal below 5240 remains as likely, however, and would warn of a test of primary support at 5000/5050.
* Target calculation: 5350 – ( 5650 – 5350 ) = 5050
The ASX 200 VIX retreated below 15 — levels typical of a bull market.
ASX 200 IS HEADED FOR 4826.70 (EXPECT STRONG RESISTANCE AT 4940.95)!