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XAO Banter Thread

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Nice looking inverted Head and Shoulders pattern. If the pattern holds we can extend price 100% of the range between the head and the neckline which brings us towards 6120 that would be nice....Time will tell..!!
 
Triathlete said:
Nice looking inverted Head and Shoulders pattern. If the pattern holds we can extend price 100% of the range between the head and the neckline which brings us towards 6120 that would be nice....Time will tell..!!
Click to expand...

Would be nice if it does, time then for a holiday while it corrects again :bowser:
 
gartley said:
Would be even nicer if it corrected back under 5300 first to reload the truck before extending upward!!
Click to expand...
Oh that would be taking advantage of the desperate SMSF and sole traders selling exhaustion.
 
gartley said:
Would be even nicer if it corrected back under 5300 first to reload the truck before extending upward!!
Click to expand...

Not expecting 5300 at this stage but is a possibility and a load up of the truck would be on the cards for sure ....

Attached is my chart with current view.....should be an interesting next couple of months.

 
Triathlete said:
Not expecting 5300 at this stage but is a possibility and a load up of the truck would be on the cards for sure ....


View attachment 67723
Click to expand...


Thanks for your thoughts triathlete. Sometimes H & S patterns backtest below the neckline before moving to their expected targets. Other times they fail to deliver completel but hopefully this one won't to the eventual Target.

Given that the SP500 has been up for 7 straight weeks now, I think a correction makes a good chance. Also the cycles I posted have been highly effective in finding turns, but of of course we are only dealing in probabilities. ))
 
The Index is looking confident since the Jan/Feb turn up. Over 6000 early to mid 2017 is my guess. A break upward now with increased volume from a two week range bound period just like the books say. Looks too good to be true.
 
Toyota Lexcen said:
down we head again, cant see anything on the horizon to lift it out of the bear market
Click to expand...
I was buying into trend pullbacks but the pullbacks have now turned into end-of-trends. Had a hunch it was too good to be true.
 
Suggest re-assess after next Mondays trading session, looking at the Futs.

An interest rate rise in the US may be delayed now.
 
Another disappointing week for long term investors, XAO gone nowhere for 8 years

The next 5yrs not looking promising for any capital growth,
 
a look at the US and it does not sounds promising for the XAO on Monday, at least the AUD is significantly down.
 
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