ASX 200 index - approaching technical sell signal target located @5375, but no sign of base forming

On the Australian market, as covered in previous wires, the ASX200 index originally generated a technical sell signal on 20/4/15 at 5833 and is now approaching the minimum downside target located @5375 – which is the minimum expectation for a pullback. There is no sign of base forming emerging on the ASX200 index. In early June a technical trend change occurred in key global stockmarkets, as detailed in previous wires. Technical sell signals had been progressively generated on the Hang Seng, simultaneously on the FTSE, DAX and CAC on 5/6/15, followed by sell signals on the Dow Jones, S&P500 and Nikkei indices. (The Hang Seng and FTSE have reached minimum downside targets, but remain negative given no sign of base forming). The fact that these previous index sell signals were generated in rapid succession was a clear global negative momentum indicator.