Let’s look at the XAO and the Dow Jones;
This is the monthly for the All Ords:
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All Ords (XAO:ASX): Monthly Line Chart
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Click to Enlarge
It is struggling to even get close to the high of 2007 and it appears the wave five could well be complete.
In contrast the DOW, despite the beating it has taken in the last week, is set for a new wave 5:
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Dow Jones E-mini (EYM-Spotv): Weekly Line Chart
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Click to Enlarge
The two main culprits for the Australian market are the XFJ and XMJ:
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S&P ASX Financials (XFJ:ASX): Monthly Line Chart
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Click to Enlarge
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S&P ASX Materials (XMJ:ASX): Monthly Line Chart
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Click to Enlarge
Pack your bags and leave? No.
There is always value even within these losing sectors.
You just need to fight a little harder.
Enjoy the ride
Tom Scollon
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