ASX 200 warns of correction
By Colin Twiggs
May 19th, 2014 3:00 a.m. EDT (6:00 p.m. AET)
The ASX 200 reversed below its secondary rising trendline, warning of a correction. Oscillation of 21-day Twiggs Money Flow above zero, however, continues to indicate long-term buying pressure.
A correction would be likely to test the primary trendline and support at 5300. Another 13-week Twiggs Money Flow trough above zero would strengthen conviction of a bull market.
ASX 200 VIX rose to 13, but still indicates low risk typical of a bull market.
They say you never grow broke taking profits. No, you don't. But neither do you grow rich taking a four point profit in a bull market.
~ Jesse Livermore