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Market Watch Weekly – ABC Corrections on ASX Top 200 and FTSE

By Dave McLachlan

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

UPDATE:

Thanks for dropping by everyone!  Great to have people who are interested in the market and their financial futures.

This week we check out the little-used “ABC correction” which is forming on the FTSE and ASX Top 200.  As they have crossed the short term up-trend line, we are in short term down trend territory.

The Hang Seng continues to lead on a short term basis, and if the Elliott Wave of last week is correct, on a much longer basis too.  This is going to be a good one to watch!

Click the video below:

Thanks heaps for checking out ASX Market Watch – Subscribe in the top right hand corner for weekly updates!  It will be good to have you back again.

As always please do your own due diligence - a great place to start is the free trading and investment course on this site.  Check out my personal Trading Diary if you want to see me practice what I preach. 

Happy trending,

Dave

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June 27, 2010  Tags: ABC Correction, asx chart, asx market watch, asx top 200, continuation pattern, Dave McLachlan, dow jones, FTSE, hang seng, investing, trading  Posted in: Market Watch Weekly

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