ASX 200 about to fall

By Colin Twiggs
November 3, 2016 2:30 a.m. EDT (5:30 pm AEST)

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Dow Jones Industrial Average broke support at 18000, warning of a test of primary support at 17000. Bearish divergence on Twiggs Money Flow indicates long-term selling pressure. Recovery above 18500 is now unlikely but would signal another primary advance.

Australia

The ASX 200 is testing primary support at 5200. Decline of Twiggs Money Flow below zero following a large bearish divergence warns of strong long-term selling pressure. Breach of support would signal a primary down-trend with an immediate target of 4750.

It is good that new ideas should be heard, for the sake of the few that can be used; but it is also good that new ideas should be compelled to go through the mill of objection, opposition, and contumely; this is the trial heat which innovations must survive before being allowed to enter the human race. It is good that the old should resist the young, and that the young should prod the old; out of this tension, as out of the strife of the sexes and the classes, comes a creative tensile strength, a stimulated development, a secret and basic unity and movement of the whole.

~ Will Durant, The Story of Philosophy