We have detected two indicators of a bearish formation on Australian Stock market All Ordinaries.
We have reduced our portfolio of shares down to 30% and holding 70% cash as we have triggered stop losses to protect capital in case our market start falling like European markets.
We will choose to re assure entering again once we receive some market rebound confirmation.
Strong downside pull on Heiken Ashi Chart
All Ordinaries is now touching SMA.
Friday is normally a sell off in the market.
*It could bounce back tomorrow, however Friday is normally a sell off in the market and it could lead to further down.
The market could reach as low as the red line or lower depending on the US and European markets performance during few days.