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ASX Market Watch Weekly – April 2010 – Elliott Waves and Trend Line Support for Top 200, Dow Jones, FTSE

By Dave McLachlan

Click below for the latest Market Watch Video (if you can’t see the video, click the link above).

UPDATE:

The Dow Jones and FTSE have reached their minimum Elliott Wave targets – being 50% of Wave 3.  Of course, they could go to 61.8% – 100% of Wave 3, so we will have to keep an eye on the trend line support as an indicator for when the trend might change.  After price crosses a trend line, we look for a lower peak, and confirm it by trading through the previous trough.  The ASX Top 200, unfortunately, is lagging behind both the Dow Jones and FTSE.  Get the full run-down below!

As always this is not a recommendation, please do your own due diligence.  A great place to start is the free trading and investment course on this site.  Also check out the Strongest Market Sectors to find out if you are investing with the best or falling behind.  And I’ve just loaded my personal Trading Diary so if you want to see me practice what I preach, you can check it out.

Happy Trending guys!  All the best.

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April 18, 2010  Tags: asx market watch, asx top 200, elliott wave, investing, trading, trend line  Posted in: Market Watch Weekly

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