XAO Technical Analysis

Sunder · 12 September 2008

Re: XAO Analysis

nomore4s said:
nice bounce this arvo though

gotta hurt the shorters... from 0.4 to 1.7% gain in about 45 mins!

It's retreated a bit though. Media is attributing it to the Lehman news released at 2:30

korrupt_1 · 12 September 2008

Re: XAO Analysis

Sunder said:
Media is attributing it to the Lehman news released at 2:30

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)...

white_goodman · 12 September 2008

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?

tcoates · 12 September 2008

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

jaithomson · 12 September 2008

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..?

white_goodman · 12 September 2008

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

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

jaithomson · 12 September 2008

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...)

tech/a · 12 September 2008

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.

Whiskers · 12 September 2008

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.

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. :

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.

roland · 12 September 2008

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. :

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.

well Whiskers, I guess you gotta be right one way or the other It's either up or down - good call!

wayneL · 12 September 2008

Re: XAO Analysis

roland said:
well Whiskers, I guess you gotta be right one way or the other It's either up or down - good call!

Ahhhh! The hedged call. Now we know Whiskers is a true expert.

nomore4s · 12 September 2008

Re: XAO Analysis

wayneL said:
Ahhhh! The hedged call. Now we know Whiskers is a true expert.

lol, and no doubt like the other "experts" he'll be shouting from the rooftops about how he got it right:

white_goodman · 12 September 2008

Re: XAO Analysis

nomore4s said:
lol, and no doubt like the other "experts" he'll be shouting from the rooftops about how he got it right:

why make predictions if you cant gloat about being correct after the fact

Disclaimer: 10% of predictions are true

jeflin · 12 September 2008

Re: XAO Analysis

GreatPig said:
Well if you make enough predictions about everything, you'll eventually get a few spectacularly right.

GP

Isn't that the job of most analysts, brokers and investment bankers?

white_goodman · 12 September 2008

Re: XAO Analysis

jeflin said:
Isn't that the job of most analysts, brokers and investment bankers?

yeh...lucky them

jaithomson · 13 September 2008

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..?

nomore4s · 13 September 2008

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..?

Who knows mate, will have to wait till Monday to find out

wayneL · 13 September 2008

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..?

Not on Monday.

Sunder · 13 September 2008

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..?

If we knew, we'd all be lying about in the Bahamas instead of checking stock forums after midnight

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.

jersey10 · 13 September 2008

Re: XAO Analysis

wayneL said:
Not on Monday.

Tuesday?

XAO Technical Analysis

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VIVA LA LIBERTAD, CARAJO!

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