XAO Technical Analysis

Sunder said:

It just occured to me that my previous post as a first post might not be as humorous as I intended it, so let me introduce myself.

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Sunder said:

It just occurred to me that my previous post as a first post might not be as humorous as I intended it, so let me introduce myself.

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Trembling Hand said:

Actually it is very funny!! I would say spot on too.

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brty said:

With new yearly lows on the XAO, this doesn't look good now.

With 6 touches at these low levels and now new lows, this goose looks cooked. I'm holding cash and ignoring all long signals for individual stocks with the index at new, new lows.

Of course as I type this the market has rallied 20 points, but I have to do what my system says.

brty

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wayneL said:

This is a traders forum, we all have dark humour.

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brty said:

With new yearly lows on the XAO, this doesn't look good now.

With 6 touches at these low levels and now new lows, this goose looks cooked. I'm holding cash and ignoring all long signals for individual stocks with the index at new, new lows.

Of course as I type this the market has rallied 20 points, but I have to do what my system says.

brty

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white_goodman said:

i dont think we are in a downward jsut yet tomorrow on the dow and asx looks for a up move imo

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white_goodman said:

i dont think we are in a downward jsut yet tomorrow on the dow and asx looks for a up move imo

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korrupt_1 said:

Then explain the 100pt drop since the open this morning?

This is after good news on employment data...

I don't know... we're at a key point... it's all up to the Dow tonight... it's going to be either a bounce on this support level or the beginning of further new lows...

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Sunder said:

I wouldn't bet all my money on it, but the failure of the last upwards movement to create or even match the previous high, says to me that support is failing. If not on this touch, then very very soon.

I've got a small short on it. If it breaks support, then the next rally fails, I'll be opening up my short a bit and expecting a few week down wave.

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Sunder said:

It just occured to me that my previous post as a first post might not be as humorous as I intended it, so let me introduce myself.

"Long time lurker, first time poster, etc, etc"

I work in IT security, and although I've been playing with standard equities for a few years, this is my first foray into a bear market, and first attempt at CFD trading. I have to say, IT HURTS! (My investment capital down 25% since July 1st)

I do have a very dry sense of humour, so excuse any posts that might offend.

Still learning both in selection and trading discipline, so I'll enjoy being here with you for a bit.

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Sunder said:

To be honest, it made more sense to me when rotated sideways

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Real1ty said:

I agree.

EW reminds me of football.

A set of rules, the umpire interprets them as he sees fit, the crowd roars its displeasure or approval.

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white_goodman said:

the overall consensus is still circa 4200 id say... this sideways action is difficult for me picking stocks atm, id rather one way or the other atleast i can make my decisions easier

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