XAO Banter Thread

[nunthewiser]

G'day gero.
Your abscence from chat is noticable. I hope your building project is going well.
Like you I think we will see another correction. But it may be delayed while the market bounces through the reporting season.
Once that is out of the way, it will be back to the reality of sovereign debt problems overhanging the market.

Hey Nulla,

will try and get back into the chatroom sometime soon as miss the banter with you guys whilst trading......... been flatout m8... building dips and jumps and allsorts of thankless goodies for the young bloke

My opinion is merely based on a technical opinion but yes theres many fundamental factors swinging its hips now .

 

[nulla nulla]

you would normally expect people in important government posts to be better prepared to answer questions on what actions their department is taking and what the objectives of that action is. Things were traveling fairly flat until Bernake opened his mouth.
View attachment djia 22-07-10.bmp
If Bernake can't run his department with a hands on and infomed style of management they should flick him for someone that can.

 

[oztrades]

First in a thread that looks at indices related to aussie market. Now compare this to other global indices and Im seeing the same patterns except for japan. The intersection wil come in beginning november approx in time for mid-term US Elections. However it will be thru the sept/oct period normally reserved for the bearish to take advantage based on all the good news has come out in profit reporting so lets percieve its NOT going to get better.

 

[Moneybags]

First in a thread that looks at indices related to aussie market. Now compare this to other global indices and Im seeing the same patterns except for japan. The intersection wil come in beginning november approx in time for mid-term US Elections. However it will be thru the sept/oct period normally reserved for the bearish to take advantage based on all the good news has come out in profit reporting so lets percieve its NOT going to get better.

That looks like a head & shoulders pattern on the end there.....I notice WBC has the same pattern as does the DJIA.

Cheers

MB

 

[oztrades]

That looks like a head & shoulders pattern on the end there.....I notice WBC has the same pattern as does the DJIA.

Cheers

MB

Tazwegian head & shoulders? enough break in the pattern to confuse us mere mortals.
Cheers

 

[oztrades]

That looks like a head & shoulders pattern on the end there.....I notice WBC has the same pattern as does the DJIA.

Cheers

MB

And yet FMG shows an ascending triangle... funny how WBC is the only bank showing the heads and shoulder. You know something we dont?


Cheers

 

[nulla nulla]

I see a downward channel with little likelihood of there being an upward breakout in the immediate future. I could be wrong, however I will be proceeding with caution.

 

[oztrades]

The dow isn't showing a heads a shoulders on my charts.



But do your own research... & remember the baby boomers.

 

[nulla nulla]

The djia broke below 10,000 overnight. This will probably have some negative impact today on the xao. Hopefully some of the positive reports comming through can help offset the negativity of the djia.

 

[Synergy]

Just for a full range of DJIA charting views...

I prefer to place trendlines where they fall.

 

[oztrades]

Baby Boomers been stopped out looking for creative market sentiment to get back into the market?
1. Reporting Season nearly finished.
2. Hysteria over Sept/Oct period.
3. Caretaker Government.

 

[Logique]

Not being partisan, just some fiscal background that all investors need to factor in to their decisions. My bolds.

http://noir.bloomberg.com/markets/stocks/futures.html
Australia Minority Government a Risk to Equities, Says JPMorgan
By Shani Raja

Sept. 8 (Bloomberg) -- The election of a minority government in Australia carries risks for investors in the nation’s share market, according to JPMorgan Chase & Co.

The biggest risk will be pressure on the central bank to raise interest rates if the government increases spending to accommodate a disparate group of lawmakers that helped it win power, JPMorgan said in research note. An inherently unstable administration might also increase spending to boost its popularity ahead of a possible fresh election.

“The administration will essentially be in constant election mode, which is not a recipe for tight fiscal discipline,” strategists led by Paul Brunker said in the note, dated yesterday. “Higher government spending adds to the potential for interest rates to go into more dangerous territory for consumers and housing demand.”

Prime Minister Julia Gillard’s Labor Party was forced to negotiate a power-sharing agreement with the Greens Party and three independents after losing its majority in an Aug. 21 election. Independents representing electorates outside major cities agreed yesterday to back Gillard in return for A$9.9 billion ($9.1 billion) of investment in rural areas to improve health care and education.

Reserve Bank of Australia Governor Glenn Stevens kept the benchmark overnight cash rate target at 4.5 percent yesterday for a fourth month.

To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net
Last Updated: September 7, 2010 20:33 EDT

 

[nulla nulla]

Things change quickly in a matter of days. Today the brakes were on following the disappointing performance of the djia overnight and reversal on todays nikkei and hang seng.
Mining and banks both dragged the market down. The sooner the government gives some structure on the proposed mining tax the better.

 

[sammy84]

Love a good short squeeze.

 

[starman45]

Re: XAO Analysis

There's strong support @ 4860.
Have a nice weekend!

 

[starman45]

Re: XAO Analysis

Today the index is carried on the support that I highlighted in my previous post.
There was a small rebound.
We'll see....

 

[starman45]

Re: XAO Analysis

Today good green close above 4900, after the good work done by the support yesterday.

 

[starman45]

Re: XAO Analysis

Today the index is much closer to the resistance 4949ish

 

[Gringotts Bank]

Re: XAO Analysis

Down 45 tomorrow?

 

[tech/a]

Re: XAO Analysis

Down 45 tomorrow?

Brilliant