both the XAO and XJO have made a Death Cross this week, on a daily chart, where the SMA50 has crossed below the longer term SMA200 - the EMA versions have not quite crossed. A Death Cross is an indication to be aware that the market may be going against you. 2011 Death Cross led to a 20% fall and 2015 Death Cross led to a 19% fall. A Golden Cross of course is the opposite and one to look forward to but not at the moment. Keep your tinder dry for a get- out quick of the ASX stocks.
i was hoping this dip would have occurred earlier , but it has been a high probability even since the XJO couldn't breach 6000 a fair while back , i have some cash reserves and some 'take-over cash ' coming , but i am still finding it difficult to keep discipline in these dips , just too many bargains to watch carefully . i did well in 2011 ,( but could i have done better ?? ) take care XJO = 4800 is the first important level on the way down
