Australian (ASX) Stock Market Forum

XAO Technical Analysis

Jump to new
Re: XAO Analysis

I'm seeing shake outs on lots of charts followed now buy very strong volumes in buying.

Could well be the brakes being applied.
 
Re: XAO Analysis

do we have our own PPT to stop this madness?:banghead:
12 days down in the row.. and now xao already hit the bottom when august correction was.:banghead:
 
Re: XAO Analysis

Futures are looking good right across Asia all made lows in the first couple of minutes trade and pushed higher.

The last couple of reversals from big down trends have started in Asia the day after a big plunge in the US. So far So good.
 
Re: XAO Analysis

powerkoala said:
do we have our own PPT to stop this madness?:banghead:
12 days down in the row.. and now xao already hit the bottom when august correction was.:banghead:
Click to expand...

If you are going to succumb to your emotions and join the panic (which I fully encourage) at least have the decency to get your facts straight. This is the 10th day in a row the market has been down. The market was up 12.8 points on January 4th. You don't count weekends you see. Secondly, we are not yet at August lows. On August 16th we hit a low of 5,490.80 on the XAO.
 
Re: XAO Analysis

dhukka said:
If you are going to succumb to your emotions and join the panic (which I fully encourage) at least have the decency to get your facts straight. This is the 10th day in a row the market has been down. The market was up 12.8 points on January 4th. You don't count weekends you see. Secondly, we are not yet at August lows. On August 16th we hit a low of 5,490.80 on the XAO.
Click to expand...

Keep em Honest dhukka!


Bronte

I also want to know the meaning of your dates.
 
Re: XAO Analysis

Here comes the Tiger to Kill the Bear.(for a day or two?)

Japan is nearly Green, Korea not far behind. Hong Kong trying hard.
 
Re: XAO Analysis

I think I'm going to end up close to green today as well now.

And with today looking like it's going to end with a gapped hammer bar, I'm staying long for the weekend.

Cheers,
GP
 
Re: XAO Analysis

Between BHP and the banks, it looks like panic buying this afternoon! Be interesting to see how it proceeds from here...
 
Re: XAO Analysis

powerkoala said:
wow...
120 pts rebound????
what is going on??:eek:
Click to expand...

A well timed leak is as good as a rate cut anyday...
stock markets recovering amid talk that the US government stimulus package will be rushed through and could be upped to 150 BLN USD from the 100 BLN originally floated. The NY Times says that Democratic leaders are encouraged by talks with Bush and hopes are high that a compromise can be reached so that the package can be introduced within the one to two month time frame that Bernanke said would be necessary to have an impact. The FT reports that some sources say that the package could be as high as 150 BLN USD.The old rumours of the Fed announcing an emergency rate cut are still doing the rounds, but I think everyone is tired of it already.
Cheers
.........Kauri
 
Re: XAO Analysis

XAO has been down 10 days in a row, and with DJI slightly lower as well, there's every chance that we'll be down for 11 straight days. I'm just wondering, what is the longest continous falls in the history of XAO? 7, 8 days happen every now and then, but 10 is cutting it pretty close, I would think?
 
Re: XAO Analysis

Awesomandy said:
XAO has been down 10 days in a row, and with DJI slightly lower as well, there's every chance that we'll be down for 11 straight days. I'm just wondering, what is the longest continous falls in the history of XAO? 7, 8 days happen every now and then, but 10 is cutting it pretty close, I would think?
Click to expand...

I would say 11 straight is a certainty. We only rallied Friday on talk of a Bush rescue plan which people presumed would drive the DOW much higher. Instead, it sank again. You'd have to say a 100+ point drop is on the cards Monday.:)
 
Re: XAO Analysis

mfp said:
I would say 11 straight is a certainty. We only rallied Friday on talk of a Bush rescue plan which people presumed would drive the DOW much higher. Instead, it sank again. You'd have to say a 100+ point drop is on the cards Monday.:)
Click to expand...

Yep, the futures point to about 70 points.....

Mind you, that doesn't mean that we will close in the red, there could still be some buying on Monday.... but boy, it's going to take a lot to motivate the players in this market and I think everyone was expecting some miracle to be relayed to the market last night in the US and quite plainly it was just selling.... err I mean business as usual.

Cheers
 
Re: XAO Analysis

Isn't there a holiday in the States Monday?

This may give the Local Bourse a bit of fuel, especially with little direction elsewhere, and the fact that the "all is not doom and gloom" stories are abound throughout the press. www.news.com.au/business/story/0,23636,23075733-462,00.html I don't have the Saturday paper, but I am sure the "we can weather the storm" and "great companies at discount prices" stories will be there too.

So, I think those in the market may enjoy a dash of Green on Monday, not before time either... Albeit while the Lemmings top up, or double down...;)
 
Re: XAO Analysis

Gundini said:
Isn't there a holiday in the States Monday?

This may give the Local Bourse a bit of fuel, especially with little direction elsewhere, and the fact that the "all is not doom and gloom" stories are abound throughout the press. I don't have the Saturday paper, but I am sure the "we can weather the storm" and "great companies at discount prices" stories will be there too.

So, I think those in the market may enjoy a dash of Green on Monday, not before time either... Albeit while the Lemmings top up, or double down...;)
Click to expand...
Think about this:

US market Thursday down 3%, our market Friday down 3% then rallies back to only 1% down on 100+ point US futures (+1% gain), US Friday finishes -50 points (instead of being positive) with banks leading the way down again on average -2%, and futures here pointing to falls of at least 1% (-75 points).

What positive is there for people to invest Monday? If anything, it is almost guaranteed we will have a worse day Monday than Friday! The only bright spots on our market could be oil stocks and other basic resources. Should see the sucker rally on Friday that we had with the banks quickly evaporate, will be interesting to see the falls the financials have.

But you know what, the more I type this out, the more I realise that in this market environment, anything can happen. But it looks like an 11th down day in a row is certain, and surely there has to be an up day SOMEWHERE on the horizon? A technical bounce was tipped by a few here this week and that never eventuated. Looking at the SPI chart over the last month is quiet scary indeed, but IMO, things are starting to look ridiculously cheap again, irrespective of a US recession.
 

Attachments

  • spi200-20080119.png
    spi200-20080119.png
    4.2 KB · Views: 198
Re: XAO Analysis

things are looking cheap on the XAO and XJO

given that most of the solid gains in the XJO and XAO came from stocks on th XMJ the other sectors are looking wildly attractive for long term investors - except that as many of us expect they will be even more attractive in a few weeks????

many on this forum have highlighted how BHP and RIO have blinded us to how sick our charts were 11 sessions ago. well!!! things are looking even worse for those stocks which did not benefit from massive gains after the august correction.. . . . . . great buying opportunities comming up for those who are not trading short term. . . . . . . .

good luck to all next week. i cannot believe the SPI was showing a potential 1% gain when i went to bed last night !!!! george bush must have been very impressive indeed . . . . :confused:
 
Top