Technicals - ASX200 index potential for technical sell signal

QMG Pty Ltd
The ASX200 index has the potential to generate a technical top formation / technical sell signal. A close below 5270 is required to generate a technical sell signal, which if this occurs, would target a minimum pullback to 5050 (major subsequent support). The potential for a negative trend change in the Australian market ties in with the US market negative technical outlook, given the 3 key US indices are rated as technical sells. Secondary technical sell signals were generated in mid-October by the Dow Jones and S&P500 indices (VIEW LINK) which was followed by a sell signal by the Nasdaq last Friday. This in turn was preceded by the technical turning point in US 10 year bond yields in August(VIEW LINK)
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Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
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Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
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