Too bad for those who mortgaged their grandmothers in late 07 though.
GP
Yes, i agree with this. Call it a hunch, but i think we are in for one more low, then it will bounce, but how high i do not know. I reckon it'll bounce back up to the current level of support, then we'll be stuck in a trading range between the 5000 and 5600ish mark, for a while. Until the crisis is officially declared over.
On the XAO chart, the MACD somewhat divergence to the chart indicates an up, but wouldn't want that support around 4900 to bust.
Similar sort of picture on the mini 200.
If that line breaks, might be a few points in a short there.
Next stop?
I'm thinking 4600 ish as the next stop on this breakdown, if it occurs.Yep, and on the five year weekly a break of a 100 points here sees the next support around 4,500 and, dare we consider, below 4000 ouch
I'm thinking 4600 ish as the next stop on this breakdown, if it occurs.
Still looking pretty bearish until this triangle breaks up a bit.
Hello All,
I am new to this website and this is my first post. I have been around the trading game for 16 years and had the misfortune of a major financial setback during the techwreck days. Fortuntely I have been lucky enough to avoid the carnage of the last 10 months.
I have been reading into the history of this thread and some excellent ideas & posts here. I will be keenly following the comments and ideas made by tech/a and wave picker.
Myis as follows.
The current pattern of the market is unclear at present
If we get a move up from here in the next 2-3 sessions ir may confirm a weekly pivot in place
Further downside although quite a possibility, will be limited and probably if it traces out will be a minor false low and the market will shoot back up to the resistance point of the current triangle
I think this is a good time to start looking for long positions and a rally is imminant
What If........?
The triangle breaks to the downside? Is it more probable given that market is in a downtrend? Where is the next support level? Is this consolidation pattern above or below support or resistance?
What are the overseas markets positioned to do?
Some food for thought.
Cheers,
CanOz
Hello All,
I am new to this website and this is my first post. Myis as follows.
The current pattern of the market is unclear at present
Hi skyhawk, yes there's some good contributors here. Perhaps you could post up some charts to support your positions above, sounds pretty random to me. Cheers, kennasHello All,
I am new to this website and this is my first post. I have been around the trading game for 16 years and had the misfortune of a major financial setback during the techwreck days. Fortuntely I have been lucky enough to avoid the carnage of the last 10 months.
I have been reading into the history of this thread and some excellent ideas & posts here. I will be keenly following the comments and ideas made by tech/a and wave picker.
Myis as follows.
The current pattern of the market is unclear at present
If we get a move up from here in the next 2-3 sessions ir may confirm a weekly pivot in place
Further downside although quite a possibility, will be limited and probably if it traces out will be a minor false low and the market will shoot back up to the resistance point of the current triangle
I think this is a good time to start looking for long positions and a rally is imminant
Would be good to see that on a semi log for more perspective gg.It may be premature to call a halt to this retracement.
A yearly chart of the XAO back to the lows of 1981 to the present shows that 4400 or 3650 is a more realistic target.
This is calculated on fibonnaci retracement from the 2007 highs, to the 38% and 50% levels. This would get it back into the long term trend as shown by the fibonnaci fan.
gg
Would be good to see that on a semi log for more perspective gg.
Might flatten out a little more.
Yo no tengo.
A yearly chart of the XAO back to the lows of 1981 to the present shows that 4400 or 3650 is a more realistic target.
TH, I agree the composition of the index has changed a bit but doesn't it still represent the market psychology of the day? I think the very long term trend is pretty uniform isn't it? Just from memory..Is that comparing apples to cumquat's?
Considering that many of the big caps of the 80 then 90 and now noughties are very different companies. Just think of NWS as an example nothing then everything (10% of the index) then nothing again.
Is that trend-line actually a trend-line or just a random collection of numbers that happen to be getting larger?
TH, I agree the composition of the index has changed a bit but doesn't it still represent the market psychology of the day? I think the very long term trend is pretty uniform isn't it? Just from memory..
Is that comparing apples to cumquat's?
Is that trend-line actually a trend-line or just a random collection of numbers that happen to be getting larger?
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