Open the gate.. welcome to this dimension..
Upside stock market gains Jun-Aug were profit take opportunities, no more.
Anybody who thought the downward trend had finished wasn't looking at the data - inflation has not eased, PE ratios are still high historically, bond and borrowing yields continued to trend up, commodity prices have only eased a bit..
Anecdotally (with some data support):
Returning to the very basics, trend puts ASX200 currently 100 or 200 points above its linear regression line which lands around 6850 (picture), suggesting it has at least that much to give back..
buggered if I know, and buggered if I much care 😛
neither do you probably 🙂
Neel Kashkari Says the Quiet Part Out Loud on Markets