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XAO Banter Thread

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Lower wick formed. The market knows that if it rises even 70 points from here, there we are once again at resistance. It's had so many shots at this recently. It's either going to bust out big time with a couple of huge green candles, or it's going to fall through the floor. There doesn't seem to be any hint of the latter, so I'm holding.
 

Played out to the tee although vols still relatively quiet. I still don't understand the point of using the XAO chart.



Good to cover mean reversion shorts down here.
 
I read your previous post about using STW but couldn't work out any advantage. XAO suits me ok. Not so gappy, so it charts more easily.
 
Gringotts Bank said:
I read your previous post about using STW but couldn't work out any advantage. XAO suits me ok. Not so gappy, so it charts more easily.
Click to expand...

GB, this shows a poor understanding of the market you are trading in.

The reason behind XAOs apparent lack of gappiness is something you need to research a lot more. I actually thought we had been over this conversation already in another thread.

There is a big difference between charting the traded prices of a contract over time, versus charting the output of an indexing equation.
 
I think institutions use XAO and XJO for their charting. I'm not trading the index, I'm using it as a signal, as they would.
 
Gringotts Bank said:
I think institutions use XAO and XJO for their charting. I'm not trading the index, I'm using it as a signal, as they would.
Click to expand...

I thought futures lead the equities, arb traders even up the index by buying and selling the constituents and then the index is a resulting indicator?

CanOz
 
Gringotts Bank said:
The ones that move the markets factor all the news into the charts, so I don't have to.
Click to expand...

Gringotts Bank said:
I think institutions use XAO and XJO for their charting. I'm not trading the index, I'm using it as a signal, as they would.
Click to expand...

So......... its all in the charts yet your charts are not actual traded prices but phantom numbers made up by a decision at the ASX for simplicity?!

No wonder TA doesn't work.
 
Not sure canoz.

Encouraging close. A glimmer of green would be nice.

SYR. Also banks and telcos look solid.
 
Will start in the green, just slightly by the looks, despite DJI falls overnight.

Another undecided day I reckon. No action for me today unless yesterdays low of 4116 gets broken in a hurry.
 
Gringotts Bank said:
Will start in the green, just slightly by the looks, despite DJI falls overnight.

Another undecided day I reckon. No action for me today unless yesterdays low of 4116 gets broken in a hurry.
Click to expand...

S&P finished even actually, expecting a normal day.
 
Gringotts Bank said:
Will start in the green, just slightly by the looks, despite DJI falls overnight.

Another undecided day I reckon. No action for me today unless yesterdays low of 4116 gets broken in a hurry.
Click to expand...

Looks broken in a hurry to me. Almost reached the trend line from 2007 peak. I wonder if it will even bother testing it?
 
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