A Look At the Aussie $XJO

At present, the Aussie ASX200 ($XJO) is fairly straightforward. From the 5/12 low, it looks to have completed a leading diagonal, complete with a nice, textbook “overthrow”—with only one very minor reservation. Strictly speaking, wave “3” cannot be the shortest wave and in this case, blue 5 is longer than 3 by 1.5 points. That may be an inconsequential violation.

From that high, it has pulled back in 3 waves and is at the 61.8% retracement of the advance now. All of this is a good setup for a 1-2. Should it rally from here, the target for minor (green) 3 is the orange box above, the upper end of which is the all-time high.

XJO


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The Correction on $XJO Looks Complete

There is a good chance that the correction on the Australian $XJO is now complete. It counts well as an A-B-C correction with an ending diagonal C wave. If I am right, then these lows should not be revisited soon.

XJO

Read more “The Correction on $XJO Looks Complete”


Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.