Australian (ASX) Stock Market Forum

XAO Technical Analysis

Jump to new
Re: XAO Analysis

kennas said:
Half my watchist is green.

:eek: :confused:
Click to expand...

Primarily thanks to TLS and WOW I take it?? Also seeing QBE and WPL outperforming for some bizarre reason, and LGL also doing OK.

I'm confused too, would of expected at the least a good 80-100 point drop, but maybe there is a silver lining out there somewhere that I can't see? lol
 
Re: XAO Analysis

M34N said:
I'm confused too, would of expected at the least a good 80-100 point drop, but maybe there is a silver lining out there somewhere that I can't see? lol
Click to expand...

Yeh, I was looking for a bigger fall, we opened too high.

Think we may break lows this afternoon. Pattern looks similar to the one on the 17th Feb (think it was). Rally in the morning, come off near the lows, consolidate, before selling off hard. Maybe? Maybe not.
 
Re: XAO Analysis

MRC & Co said:
Yeh, I was looking for a bigger fall, we opened too high.

Think we may break lows this afternoon. Pattern looks similar to the one on the 17th Feb (think it was). Rally in the morning, come off near the lows, consolidate, before selling off hard. Maybe? Maybe not.
Click to expand...

Either there's still a lot of uber-optimistic Oz punters propping the market or there's some uber-greedy, sneaky Chinese share buying going on, or a mixture of both?

Whatever the reason, the All Ords has creamed the DOW in the past week. :confused:
 
Re: XAO Analysis

Also interesting to note the SPI below 3,300 level at around 3,290, but the ASX200 trading just above at around 3,310, but the XAO down to around 3,270. This 3,300 level is showing VERY strong support, and even with the Dow down more than 3% overnight we are still holding up reasonably.

Even yesterday's falls were modest and factored in a big rise on the Dow for last night, which never eventuated. What's propping up our market? Maybe a nice rally being priced in for the Dow? Hmmmm.
 
Re: XAO Analysis

Impressive day today, after the DOWs 3% fall. Hang one, it went 3% up!

:confused:

XAO rejecting 3300 looks ominous.

Maybe the Downs will win the prize?
 
Re: XAO Analysis

kennas said:
Impressive day today, after the DOWs 3% fall. Hang one, it went 3% up!

:confused:

XAO rejecting 3300 looks ominous.

Maybe the Downs will win the prize?
Click to expand...

Option MM shenanigans. Take today out of the charts & Fridays volume. Move along nothing to see here .... :sheep:
 
Re: XAO Analysis

Yep spot on again -

Predicted by well known expert -

The first step to recovery
Robert Gottliebsen
A rally on Wall Street overnight will feed into a strong performance in Australia today. Over the longer term, US banks will need to be much more upfront about their position if they want to be helped. 25 Feb 2009 8:14 AM
Click to expand...
 

Actual result -

S&P/ASX200 3325.2 -6.4
ALL ORDS 3280.2 -4.8
 
Re: XAO Analysis

MrBurns said:
Normaly I would but I couldn't see this turning into a "strong performance".

S&P/ASX200 3327.5 -4.1
ALL ORDS 3281.5 -3.5
Click to expand...

Yep was expecting more but you are right. As far as the tossers over on Biz Spec I'm going to start a thread on their poor calls. Think their disciples need a counter balance. And Free!!:)

In fact the pop is happening now on the Futs.
 
Re: XAO Analysis

Trembling Hand said:
Yep was expecting more but you are right. As far as the tossers over on Biz Spec I'm going to start a thread on their poor calls. Think their disciples need a counter balance. And Free!!:)

In fact the pop is happening now on the Futs.
Click to expand...

It's unpredictable now, job loss figures, big ones are being released daily, it's a real mess out there, I think there is huge potential for a large fall before long.

We now have companies reporting 50% profit reductions and thousands of job losses almost on a daily basis.
 
Re: XAO Analysis

MrBurns said:
We now have companies reporting 50% profit reductions and thousands of job losses almost on a daily basis.
Click to expand...

And we have 40 to 95% share price reductions....and divis that now reflect those
new market caps....how much more bad news can the market factor in until its full.
 
Re: XAO Analysis

So_Cynical said:
And we have 40 to 95% share price reductions....and divis that now reflect those
new market caps....how much more bad news can the market factor in until its full.
Click to expand...

I dunno we're in new territory, but stunned by it all and sick of it now as well.
The only thing left that could happen is a collapse of the financial system, could happen.
 
Re: XAO Analysis

MrBurns said:
The only thing left that could happen is a collapse of the financial system, could happen.
Click to expand...

Too big to fall :cool:

Your talking about our economic system to collapse?

No way, not in Australia... We have too much good going for us...:)
 
Re: XAO Analysis

10 Year 1 Week Candle Chart.

Fair to say if get close to 2850 could be close to a bottom.

Market will decide.
 

Attachments

  • 1.jpg
    1.jpg
    50.8 KB · Views: 385
Top