Australian (ASX) Stock Market Forum

XAO Technical Analysis

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Re: XAO Analysis

Whiskers said:
I like it! The market is plugging away making slow, but steady progress. :cool:

Looking pretty well bought today though. I'd say a couple of days off are in order now... back to say about 5020/30ish, before chugging on up to 5200 or so.
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Good to see our permabull has not been discouraged by being wrong so often.

This is a secondary correction in a bear market. The bottom is yet to come. October should be good.
 
Re: XAO Analysis

davo8 said:
1) Higher interest rates encourage foreigners to buy AUD. Lower interest rates should benefit the CAD.

2) Consumption is non-productive, a misuse of scarce resources. Consumption is the reward you get for working hard, not a good thing in itself.

3) Low interest rates encourage direction of capital into non-productive purposes such as residential housing, not productive investment.
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1) How so?

2) GDP (by which growth is measured when inflation has been accounted for), is C+I+G+NX?

3) Micro policy can deal with such an issue?
 
Re: XAO Analysis

A downward lead from the Nasdaq and Dow will probably see the XOA retreat back to 5020-5050 today IMO. Support likely to form ~5000 over the next few weeks and then recovery by end of quarter and stability from the first interest rate cut. I did note however that lending was still on the increase in recent economic stats. Could be a reason for the RBA to sit tight, this would see the resource sector suffer a little which could see the 5000 punched through, otherwise it looks like pretty steady sailing.
 
Re: XAO Analysis

skyhawk said:
Hello All,

I am new to this website and this is my first post.

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 wave picker.
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kennas said:
skyhawk, I'm still really interested in your justification for your comments on the market direction.

Maybe a chart, or further analysis....

Cheers,
kennas
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I'm also interested as to why you'll be following wavepickers posts?

Someone to look up to eh?
 
Re: XAO Analysis

kennas said:
I'm also interested as to why you'll be following wavepickers posts?

Someone to look up to eh?
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Kenna's

Whats the problem with following a poster?
Waves is also a favorite of mine.
 
Re: XAO Analysis

wayneL said:
Yep,

I also liked how he was right 50% of the time... awesome. :p:
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At least he posted analysis for public scrutiny and debate.
Some of us do.
Which will be either proven to be correct or not---50/50 well it depends on what you do with each 50.


Others pass purely opinion.
Your comment above has no value---in my not so humble opinion.
 
Re: XAO Analysis

tech/a said:
At least he posted analysis for public scrutiny and debate.
Some of us do.
Which will be either proven to be correct or not---50/50 well it depends on what you do with each 50.


Others pass purely opinion.
Your comment above has no value---in my not so humble opinion.
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It wasn't meant to have value, so that's OK. :p:

...and it's not required for you you to teach me how to suck the sausage.

Thanks.
 
Re: XAO Analysis

wayneL said:
It wasn't meant to have value, so that's OK. :p:

...and it's not required for you you to teach me how to suck the sausage.

Thanks.
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A touch of the "Joe Bjelke-Peterson's" there Wayne!
 
Re: XAO Analysis

tech/a said:
Kenna's

Whats the problem with following a poster?
Waves is also a favorite of mine.
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Yes, you are right Tech, I have read probably every one of your posts since joining, thank you.

Maybe skyhawk will be following every one of wavepickers posts also.

There are some great contributors on this site.
 
Re: XAO Analysis

Everyone pretended today that nothing much happened overnight in the US (the DOW going down 2%) and seemed to bet heavily on the DOW recovering in the next trading session. Chances are that it will. But what if it doesn't, what if the DOW goes down another 1.5-2% tomorrow, what will XAO do - go down 4%?
 
Re: XAO Analysis

noident said:
Everyone pretended today that nothing much happened overnight in the US (the DOW going down 2%) and seemed to bet heavily on the DOW recovering in the next trading session. Chances are that it will. But what if it doesn't, what if the DOW goes down another 1.5-2% tomorrow, what will XAO do - go down 4%?
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This is not entirely correct.

The XAO opened down due to the DOW, we were under 5000 for most of the morning. So I don't think anyone was pretending nothing happened overnight.

I'm not sure what triggered the turn around all I know is that the afternoon and the close were strong. Was lucky not to get closed out of some longs today that ended up performing well.

The market will deal with whatever happens overseas tonight tomorrow but I doubt the XAO will go down by 4% if the DOW goes down by another 2% tonight (famous last words:D)

Seems to be some strength in the market atm but it would need to break 5200 with some conviction to have me feeling more relaxed about a decent rally.
 
Re: XAO Analysis

nomore4s said:
This is not entirely correct.

The XAO opened down due to the DOW, we were under 5000 for most of the morning. So I don't think anyone was pretending nothing happened overnight.

I'm not sure what triggered the turn around all I know is that the afternoon and the close were strong. Was lucky not to get closed out of some longs today that ended up performing well.

The market will deal with whatever happens overseas tonight tomorrow but I doubt the XAO will go down by 4% if the DOW goes down by another 2% tonight (famous last words:D)

Seems to be some strength in the market atm but it would need to break 5200 with some conviction to have me feeling more relaxed about a decent rally.
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I see Rio reported a good result, was that enough to spur a rally or was it after the bell?

Cheers,


CanOz
 
Re: XAO Analysis

theasxgorilla said:
If he's going to get page space in Smart Investor he might as well say something memorable. I find both of these targets very hard to fathom, but the latter especially so.
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4164 target...little specific aint it?

i personally think that we havent seen the worst of it yet, the economy is on the knife edge atm and i beleive we may hit some sort of recession, though i dont know to what magnitude...

low 4000's seems quite feasible
 
Re: XAO Analysis

CanOz said:
I see Rio reported a good result, was that enough to spur a rally or was it after the bell?

Cheers,


CanOz
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Well, RIO's result came in at 4pm and the market started to recover pretty much after it fell on the open...
 
Re: XAO Analysis

kennas said:
Yes, you are right Tech, I have read probably every one of your posts since joining, thank you.

Maybe skyhawk will be following every one of wavepickers posts also.

There are some great contributors on this site.
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We all have our favourite posters.When a newbie nothing wrong with that, infact it can be a good influence .

If into Elliot Wave Wavepicker was probably the most knowledgable on this site bar none.
He also put his analysis on here for all to see.A lot of the so called Guru's on here do not and only post after the fact hindsight trades.

I have no idea about his success rate, but he wasn't afraid to put himself up for scrutany.
 
Re: XAO Analysis

noident said:
Well, RIO's result came in at 4pm and the market started to recover pretty much after it fell on the open...
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Ahh, right. I just tuned in a few minutes ago and saw the recovery and the RIO ann.

I wonder what the volume was like today, as a good dose of it and a high close might indicate a little rally may be on the cards?

Cheers,


CanOz
 
Re: XAO Analysis

CanOz said:
I wonder what the volume was like today, as a good dose of it and a high close might indicate a little rally may be on the cards?

Cheers,


CanOz
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Very light volume Can.It was a good comeback today but we are just range bound i.m.o.

We are just as likely to get a rally in the US tonight only for us to go down tomorrow.

A pretty dire market to trade, that is what I am finding anyway, although I don't day trade so can't comment on market conditions for that.

I am hoping for the next leg lower to arrive soon, this last low didn't appear convincing and the rise since certainly in no way can be seen as impulsive.Although we could also say that the longer this consolidation goes on the more chance that it is a solid bottom.

So really I don't know :(
 
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