The world markets right now are a roller coaster ride, bouncing around since their big drops last month. They all had a small bounce after their falls and most have now found support and are churning sideways. The Aussie market has been bouncing off the significant 5000 support level many times now. It is up to its fourth bounce and appears to be building a descending triangle pattern. The US and Chinese indices are also stagnating and churning sideways. It’s time to keep a watchful eye on any breakout that may occur.
