XAO Banter Thread

[lindsayf]

beautiful rotation in the front month cfd for Sp200 (XJO)

a few false positives in the indicators ...yaget that !

Please elaborate

 

[InsvestoBoy]

Kind of a critical juncture here on the hourly chart.

 

[fiftyeight]

Kind of a critical juncture here on the hourly chart.

View attachment 102577

Not sure it is high on Trump's list though?

 

[InsvestoBoy]

anyone looking at this chart and thinking to themselves this is super bullish ??

 

[InsvestoBoy]

Just noticed there is a double inside bar on the daily...

not that the last one was so powerful or anything.

 

[InsvestoBoy]

anyone looking at this chart and thinking to themselves this is super bullish ??

View attachment 102591

well, shows how much I know, we chopped our way up from this post, then smashed into todays open back to the same spot and dip buyers anonymous have been buying all day



double inside bar broke out to the upside on Friday night and so far the pattern is holding, could result in an explosive (relative to the recent low vol chop) up move shortly.

 

[InsvestoBoy]

The trendline below (see magnifying glass icons) was drawn connecting the April 22 lows with April 23 lows and has been the "going up on the wrong side of the trendline" line since then.

Seems like there was a morning ramp and that someone was waiting at the line to sell quite a big chunk, below is 15 min chart



dip buyers anonymous, where are you

 

[MrChow]

It's near impossible for me to see how the markets won't end up lower during the May-October period. Just about everything would have to go right to even make a small gain given this historically quick rally has priced in a near perfect recovery in the real world when there are so many risk factors still in play.

 

[Smurf1976]

It's near impossible for me to see how the markets won't end up lower during the May-October period.

I'm thinking much the same. If you're going to buy an index fund etc well then there's probably going to be a better time to buy than now.

Individual stocks could still produce a profit however if they've got a strong business etc.

 

[InsvestoBoy]

Dip buyers did come in not too long after I posted and slowly dragged the price up higher than the ASX open but looks like it sold off from there in the US session.

New trendline connecting 27th and 28th Apr lows caught it

 

[InsvestoBoy]

Funny how perceptions work...watching this move and I'm thinking hoo boy this is a big buy


then I'm thinking hang on, this isn't even a hundred points!

 

[InsvestoBoy]

anyone looking at this chart and thinking to themselves this is super bullish ??

View attachment 102591

shows how much I know

 

[InsvestoBoy]

Well, I had been watching this trendline that I posted last night since early April, wondering if it was a silly line that was too wide off two swing lows that were too close together.

Updated hourly with that line re-formatted to highlight in red/thick:

View attachment 102506

was pretty much exactly where the market bounced in the overnight session.

Looks like the market is still deciding whether April will be an up month, going to be an interesting session today.

Looks like this line will be back in play this morning:


probably a good spot for the market to react to the ANZ profit numbers...

 

[qldfrog]

With ANZ postponing dividend announcements, would be a cheeky move to go bull today

 

[PZ99]

What a bad day for that announcement considering the overnight gains.

Could've reached the stars instead of nursing the scars.

 

[qldfrog]

With ANZ postponing dividend announcements, would be a cheeky move to go bull today

up it goes anyway, now reaching the level of oct 2017(2.5y ago);
Capital raising and div cuts everywhere: there is looking forward and there is dreaming....

 

[flightcrank]

Hey guys the impact of the corona virus is way worse than the GFC. profits are tumbling down everywhere. LETS RALLY UP!

 

[InsvestoBoy]

looks like the longs got cleared out last night, every single time the market gets on the "right" side of a bull line, it rejects, usually quite hard

 

[InsvestoBoy]

Bottom of this channel

 

[peter2]

I love the smell of fear in the morning as I see the days activity on the ASX. Yes, I'm happy. I'm pleased to see a dose of reality finally hit the market. There should be more of it in the coming days/weeks. This will make our index bumble along the bottom and this bumbling will make a great base pattern from which our market can rally strongly.