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XAO Technical Analysis

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Re: XAO Analysis

Sunder said:
Media is attributing it to the Lehman news released at 2:30
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I take what the Media report with a pinch of salt... nevertheless it was a nice rally indeed... didnt expect that - especially on the back of a Friday and a potentially volatile US session...

Other international indexes didnt do much.. so rally could be atrributed from short covers (me included)...
 
Re: XAO Analysis

looks like we are still sitting in that sidewyas trading channel for now, im still at work but how was the volume for the day, low volume?
 
Re: XAO Analysis

You can get volume information here

http://markets.smh.com.au/apps/mkt/indexDetails.ac?idx=XAO

As for whether it is low volume... that is determined by the system you follow. I have a couple of variations on VSA and...

* one system (Joel) would have today as a day of "no demand"

* one system (my variation) and another borrowed from another forum would consider as average volume

* Bug volume indicator would also indicate average volume.

Take your pick :)

Tim
 
Re: XAO Analysis

Oh nooo..! floating above 4900, thats gotta hurt the shorts at 4800. Any guesses Monday what may happen, or even tonite on Wall Street..?
 
Re: XAO Analysis

tcoates said:
You can get volume information here

http://markets.smh.com.au/apps/mkt/indexDetails.ac?idx=XAO

As for whether it is low volume... that is determined by the system you follow. I have a couple of variations on VSA and...

* one system (Joel) would have today as a day of "no demand"

* one system (my variation) and another borrowed from another forum would consider as average volume

* Bug volume indicator would also indicate average volume.

Take your pick :)

Tim
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yeh i got increased but average volume in tradeguider... from what ive seen on the DOW chart they should rise but who knows honestly...if we dont get any bad news on the weekend i wouldnt be suprised if we had another up day on the XAO on Monday
 
Re: XAO Analysis

Doesn't look like the US Government is going to buy out Leyman's....

Do you think the Dow Jones will go up or down tonite ? - as this will reflect our market (even though it will be closed at the time...)
 
Re: XAO Analysis

We are seeing lower highs and lower lows.

Nothing out of the ordinary.
There is no indication of alteration of direction for any length of time---Still range bound.
 
Re: XAO Analysis

kennas said:
5 EW'ers will have 10 different opinions, and then be able to adjust those opinions on a daily basis to suit one of the 'rules' about EW.

:confused:
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Well... if I may, I'll adjust my opinion... since the landscape has changed slightly while I was away.

Well, here goes! For better or worse, one of them must be pretty close to right. :p:

I'm thinking if this wave C is to extend to the low 4,000's it pretty well has to keep going south from here.

On the other hand since we hit a bit of a pothole and 2 or B is a tad lower, which sets up a Flat, if it makes a new high which is still my preferance, we could see a substantial kick higher... C would have to be a five wave impulse.
 

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Re: XAO Analysis

Whiskers said:
Well... if I may, I'll adjust my opinion... since the landscape has changed slightly while I was away.

Well, here goes! For better or worse, one of them must be pretty close to right. :p:

I'm thinking if this wave C is to extend to the low 4,000's it pretty well has to keep going south from here.

On the other hand since we hit a bit of a pothole and 2 or B is a tad lower, which sets up a Flat, if it makes a new high which is still my preferance, we could see a substantial kick higher... C would have to be a five wave impulse.
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well Whiskers, I guess you gotta be right one way or the other :) It's either up or down - good call!
 
Re: XAO Analysis

Anyone got any predictions for Mondays ASX200..? Are we really going to hit below 4500 like australianstockreport.com.au and chartchat.com.au tells us..?
 
Re: XAO Analysis

jaithomson said:
Anyone got any predictions for Mondays ASX200..? Are we really going to hit below 4500 like australianstockreport.com.au and chartchat.com.au tells us..?
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If we knew, we'd all be lying about in the Bahamas instead of checking stock forums after midnight :p

Dow is currently down, but hardly convincing. 4500 on Monday though? Not unless Hurricane Ike changes its mind and hits New York instead. Even then, probably not quite 4500.
 
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