ASX Market Watch May 2010 - How To Trade A Broadening Wedge on the Australian All Ords

[DaveASXWatch]

Hi Antoset83 - sorry, a bear since late '99? Did you mean '09? A bear market would have to involve a longer move for me. This, so far, is merely a correction (at least accoring to my rules). Others may see it differently, and I definitely respect that.

[DaveASXWatch]

Hi guys, thanks for watching! TradeWorth, I like your thoughts - I was thinking based on previous patterns we'd get a short and swift up move before the bear kicks in (similar to the August 07 move before the 2008 bear), but of course, we may not. Just so we're on the same page - where is your Wave 3 starting from, and where are your Waves 1 and 2?

[antoset83]

@DaveASXWatch Yeah cool i like your videos, keep them coming. Just something i heard in Van Tharps book about a bear since 2000. in march last year AO was at 3400 or 3600 or something same level as Jan 2000. He reckons its a very very volatile bear until 2020. this is based on P/E, dividends and all fundamental values. I dont quite get fundamentals but it makes sense when you read his explanation.

Happy trading !!!!

[TradeWorth]

dude, this thing is going down through the floor. They all are. we are in a mass bear market completing an elliot wave cycle. We know its a wave 3 because these breakouts are much more aggressive and rapid than the breakout we had in 08. another recession......

[jordan2tagg]

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