Well here we are with a double top reversal on the ASX 200 right on queue, the day after BHP confirmed a top reversal. I don't know how much downside to expect here. The daily MACD is not crossed down yet but I expect it to. I am looking at the 50% Fib level at 5,250. Lets see how the weekly chart looks at the end of the week. The weekly chart actually looks quite bullish so I don't expect that much downside at this stage.
I wont bother to post the chart for BEAR but it has confirmed a bottom reversal as you would expect, so we need to see if the daily MACD crosses up now on that chart.
Click on chart to enlarge
Below: ASX 200 daily chart
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