XJO (ASX 200) Weekly TF Update Dow Theory Applied 05/02/2017.

Current trend status of ASX 200 in weekly TF (Dow Theory Applied) can be found below. In brief,  downtrend  of the short term Weekly may be read as nothing other than noise or correction of the Up Trend in Medium (2nd) and Long (3rd) Term Trends. An inside period of last week may be suggest a deterioration of the short term downtrend and potential change from down to up may be on the horizon.

Short Term Trend : Down

Medium Term  Trend (Non Failure Swing) : UP

Long Term Trend : UP

XJO is now in the process of digesting the OVERBOUGHT CONDITIONS. A new higher high, if and when on hand, will also turn the short term trend UP.

Weekly XJO Chart below with Dow Theory markings.

xjoweekly05022017

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