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XAO Banter Thread

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Yeah, hope it works out but those last 2 days are a bit mingy compared to the long takedown bars.
 

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I can't imagine what it must be like to stand out on the street all day, just to get inside of a Centrelink office, especially if it was someone's the first time ever. There's some real suffering out there in the community.

I just think we need to be careful with our messaging. Factual, but upbeat wherever possible.

Massive stimulus from US & Aust governments has led to a few better days, but we need trend follow through now. Nobody said a V-shape recovery was likely
 
hja said:
Well I hope that Centrelink management will soon make a V-shape recovery in realising that each person can be texted a queue number and place in the queue, instead of spilling out on to the street like alphabet soup!
Click to expand...
That mean common sense and freedom for the employees to act..
If a local employee does that, it will be against so many rules he she would get sacked, then social media will be full of angry warroers because a pregnant or Aborigines..you name it person will not have been prioritises properly
In time of war and crisis only do we see exposed the worst of people and systems .
All these fake jobs, and Kafkaesque rules
 
Here's a thought for the weekend now that the market is closed.

This move has been so fast! So let's remove time from the charts.

Here's the range bar chart (each bar is 100 XJO points), with some vertical lines at the end of Dec 2019, end of Jan 2020, end of Feb 2020:



wowsers! Quite a show.

Now let's do the range bar chart for STW (each bar is $1), just to see the diff with no overnight action:
 

Well, it was a big if @kid hustlr , but 4420 turned out to be the swing low.

5077 we dinged, didn't make it to 5483 yet though. Who knows if we will.

Fib retracement from 4420 to the current minor swing high around 5400 had 5028 as the 0.382 retracement, which along with the confluence of a trendline I pulled out of my arse was where the price bounced this afternoon as the market closed:



enough to get us to 5483 and maybe even 5811?

dunno, but fun to watch.
 
Well said.

Also the fun to watch comment, I'm due for a purchase next week but apart from that it's just making good tv for me
 
fiftyeight said:
Is what getting "covid under control vs reacting slow to covid" looks like?

XJO vs ES

View attachment 101883
Click to expand...

I used this to add to my BEAR.ASX position yesterday, I am now at 'close my eyes and cross my fingers' size.

Woke up to ES down 4.5%, down 1%ish RTH after a fun close? At least I 'shouldn't' blow my account this morning which would be nice

 
InsvestoBoy said:
Activity above the trendline starting to look distribution-y

View attachment 101887

Think there needs to be a bullish US session to keep it alive.
Click to expand...

Well, there was no bullish US session.

Where the market closed overnight is riiiiiight right on top of the 0.236 Fib retracement from the Feb highs => March lows, but it doesn't look healthy:

1H chart


Trendline I posted last night got broken and rejected on test, last chance trend line coming right up below that, with a confluence of the 0.382 retracement from the current 4400 swing low => 5400 swing high:

15M chart:


a break down could see us back at 4623, but maybe we will hold?

with bonds getting bid again and gold holding the line, I'll likely be buying equity dips on fresh cashflow again...
 

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So I noticed bbus was going up into close yesterday. Day before I think it was down. Is it any good as a prediction tool on the dow?
I basically have app charting capabilities at the moment. So hard to investigate.

It seemed to diverge a bit from our market yesterday. Which seemed to indicate a lot more then the futures were at the time.
I suppose it's only useful if xao follows the dow.
 
Another wild day.



5204 is the closing price I have for March. We are above the last two weekly closes, regaining and testing the monthly close as support instead of resistance would be nice.
 
I don't feel there is a proper floor/base to the recent rise.
Not a chartist but I feel we will get roughly a 10% fall then a 5% rise Then a big 25% fall over the next two weeks.
The existing mood is completely unrealistic, hopelessness will be the next mood.
 
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