From positive to negative correlation?
Hard to believe for some of us but it looks that the correlation between the Aussie SPI200 and the US indices went from positive to negative.
To make it short, the S&P500 and DJ30 show the genuine will to complete the last Elliott wave up whilst the SPI200 in Australia is set to reach a new low at 3700 (as a minimum target).
See the weekly chart of the S&P500 below where this index is set to complete the (very last) 5th wave up within the 5th wave of major grade.
And so does the DJ30 in the weekly chart below. This index too is set to complete the (very last) 5th wave up within the 5th wave of major grade
Instead, what happened to the SPI200 weekly below? It seems to be heading down to 3700 (as a minimum target)
See also the monthly chart of the SPI200 below for further confirmation of the target. Furthermore, this could take the Aussie index to the levels of 2001 and even below.