Trading XJO/SPI/AUS200

[OmegaTrader]

Sorry for poor chart etc. A very basic interpretation.

Taking along term view and my basic take.

Even after 2008. Price without dividends has not broken the high mark or 6800 ish

The 6000ish physiological mark couldn't get broken. Recently it tried again.

I see the wedge forming. Sense tells me that eventually "in the long term" economy inflates etc. So price should rise.

But what is the price telling me?

Also, diverting looking at the US sp500 positive performance.

Correlation ?? Looks a bit off.
Compared to US our upward movement has been alot slower.

A bit early to tell until either of the key points are broken. But a break down can't be good.

I think slightly bearish, until further notice.

 

[Quant]

Until we close above the yellow zone I will remain bearish in the medium term , still liking period around june opex for a swing low of significance .

 

[Quant]

On this intra last downsloping channel is a bit sketchy so a little ' artistic'

Nevertheless it appears the counter relief rally is done and pop selling was/is the right MO . Daily has now reverted back to bearish count and monitoring of gaps and channels to establish points of interest continue . Such a brilliant time of year to trade imo

 

[Quant]

XJO on the edge again , obvious key level , I favour the waterfall at some stage .

 

[Quant]

XFJ new lows for 2017 , next leg down . XJO testing 5700 again , still looking for june opex period for swing low , still playing the short bias

 

[Quant]

Lowest closing price XJO since early Feb , the waterfall looks close , still booking profits as I go but got a decent core short position , will book out on a capitulation exhaustive move .


Note todays gap fill from Feb 9's breakaway bullish gap , no huge surprise to see that 5480 gap filled ultimately .