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XAO Technical Analysis

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Re: XAO Analysis

nikki said:
Hi Chops_a_must, would you mind point out what you mean by your last comment. :eek:
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Get a daily chart of the xao. Scroll to 1987. There is a long bar. I'm not going to tell you which other two bars you should be looking at, but it should be very very obvious. Perhaps I should have said 4 bars. :p:


Tech. Are you basing your trades on my SPI comments? :p:
 
Re: XAO Analysis

chops_a_must said:
Get a daily chart of the xao. Scroll to 1987. There is a long bar. I'm not going to tell you which other two bars you should be looking at, but it should be very very obvious. Perhaps I should have said 4 bars. :p:
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hmmm - i did that straight after posting my comment. i see what you mean?:eek:
 
Re: XAO Analysis

Why does XAO look like closing higher on the .75% rate cut news when DOW closed lower today?
 
Re: XAO Analysis

CamKawa said:
Why does XAO look like closing higher on the .75% rate cut news when DOW closed lower today?
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Well, we've tanked harder than them. But my opinion: big players were selling to monkeys on the swing low.

It had every opportunity to do more... and why didn't it? Supply.
 
Re: XAO Analysis

doctorj said:
Since when have you been a discretionary trader???
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Heh, I almost had to ask that question too.

But then I am also a bit into discretionary. Practical experiences will help toward the development of systematic trading systems.

Tomorrow will be a tough one to crack.
 
Re: XAO Analysis

chops_a_must said:
Get a daily chart of the xao. Scroll to 1987. There is a long bar. I'm not going to tell you which other two bars you should be looking at, but it should be very very obvious. Perhaps I should have said 4 bars. :p:


Tech. Are you basing your trades on my SPI comments? :p:
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I have a daily chart but I can't zoom in on it ..do you have a link to one..I have been looking thru the forums to see if I can find one but no luck.

cheers
S
 
Re: XAO Analysis

An 87 style fall-out is certainly possible. Other possibility is an 01 type of follow-up:
 

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Re: XAO Analysis

MS+Tradesim said:
An 87 style fall-out is certainly possible. Other possibility is an 01 type of follow-up:
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The test will be clearing out Friday's lows IMO. Bulls really should have been expecting that and wanting that. I'll be bearish until I see that.
 
Re: XAO Analysis

tech/a said:
XJO 5 min chart

UGLY if long.
Xmas if short
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Well I tried to go short soon after opening this morning when the index was up around 350 points, but the only shorting I have access to at the moment is put warrants and it became too hard.

Firstly, NAB online trading was very slow, and I could barely get market depth let alone place a trade. Secondly, the warrant MM wasn't at all helpful, pulling its offer during that period of time so that I couldn't have bought even if the broking platform was working okay.

In the end I got so sick of taking ages to get a market depth that just showed no offers, and sometimes no bids either, that I gave up.

GP
 
Re: XAO Analysis

Buyers Remorse?

Europe is down this morning. I would have expected a euphoric follow through if this relief rally had any legs.

Still early here, but sellers are in control again.
 
Re: XAO Analysis

Yah there really isnt any good news around at all , no reason for any serious rally, even the Fed cut, pffft , was always coming at some stage , and just pushes the US (and the rest) closer to the brick wall !

Maybe the market just needs one gynormous blowout so we can start over... :eek:

To much forward growth was/is priced into equitys, the players are seriously starting to see that tomorrows profits cant be assumed using yesterdays calculator :cool:
 
Re: XAO Analysis

GreatPig said:
Well I tried to go short soon after opening this morning when the index was up around 350 points, but the only shorting I have access to at the moment is put warrants and it became too hard.

Firstly, NAB online trading was very slow, and I could barely get market depth let alone place a trade. Secondly, the warrant MM wasn't at all helpful, pulling its offer during that period of time so that I couldn't have bought even if the broking platform was working okay.

In the end I got so sick of taking ages to get a market depth that just showed no offers, and sometimes no bids either, that I gave up.

GP
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I really get confused why Aussie MMs behave this way. Shafting traders is profitable for sure, but guaranteeing that most will just eventually abstain.
 
Re: XAO Analysis

Here is the 1929 chart of the DOW when it crashed. Circled is a similar scenario to Chop's post of the 1987 chart and the place where Temjin mention the big day up after the big day down. Also looking a bit like to-days XAO.
 

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Re: XAO Analysis

wayneL said:
I really get confused why Aussie MMs behave this way. Shafting traders is profitable for sure, but guaranteeing that most will just eventually abstain.
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Option MMs have also not been making continious markets (and largely ignoring option quote requests) for the last two full days - not even BHP, our most liquid optionable stock - and it's option expiry tomorrow. Unbelievable :eek:

The broker suggested getting as many people as possible to send an email to the ASX complaining at the MMs thumbing their noses at the rules. I'm not sure it will do any good as I think they are a law unto themselves. However, if anyone else has been adversely affected, may be worth putting in a complaint to the ASX.
 
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