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XAO Banter Thread

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Treat it as a paper trade
FTSE 100.
I don't trade CFD'S
I'd closed the z
Was on I pad used the FTSE 100

Should have been more thorough.
Well spotted though.
 
For those posting up technical analysis of the XAO, please don't forget we have a thread solely for that purpose: XAO Technical Analysis.

This thread was originally intended for general XAO discussion and commentary.
 
I happened to see ABC The Business last night, there was no irrational exhuberance there when they asked an industry panel where the All Ords might finish the year.

Most of them said less than where it is today. 4700 - 4800 seemed to be the general consensus, although one said as low as 4250. Just one said higher than today, 5300.
 

So we take out the two outliers
The high and the low and its Official.

Where it is now.
No wonder they are experts.
 
This is the DOW, however it does relate to the XAO. What happens there still happens here to a large extent. Taken form from http://www.e-wavecharts.com/

He calls it an ending diagonal. I call it a bearish wedge.
 

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Gringotts Bank said:
This is the DOW, however it does relate to the XAO. What happens there still happens here to a large extent. Taken form from http://www.e-wavecharts.com/

He calls it an ending diagonal. I call it a bearish wedge.
Click to expand...

It is indeed an ending diagonal...but 2 points to consider.

1) Everybody and their dog in the U.S is aware of it due to the press which makes me suspicious that it is relevant. Remember usually the herd are wrong and the market will do exactly the opposite of what is generally expected.

2) A rising wedge or ending diagonal has to fit within the larger count. In other words it is an unreliable pattern (in my experience) unless it fits within the larger patterns.

Anyway it's now make or break time so the answer will be known very shortly.
 
You would think that after the response to the CBA's results today that the run up in financials has to have peaked. A lot of stocks are going to start to go ex-dividend starting with TLS next Monday. I'm thinking that from here to keep the XAO heading higher materials are going to have to kick-in.
 
Henri Le Conte would have something to say about today's close of 5057. Something along the lines of "UNBELEIVABLE".
 
Reminds me a bit of the dude from X-men, the guy with the helmet. Short squeeze and the 'oh god I thought it was going to correct, I've missed the boat and I better get in quick' crowd. Mind you, US markets are at very strong historical resistance.

 
Keep calm - don't panic. Just a reminder that both CBA and TLS go ex-dividend today. I'm waiting for at least one "OMG - what's happening?" post in the TLS thread.
 
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