XAO Technical Analysis
- Thread starter Sean K
- Start date
- Joined
- 14 January 2009
- Posts
- 253
- Reactions
- 0
Re: XAO Analysis
Being short would seem dangerous due to the fact that the charts alone are quite bullish; except the fast stockastic indiactor which is approaching an overbought stage.
We must remember though that the stockmaret is not the economy, and is irrational, it is made up of the smartness and stupidness of the public, and as the past few months has shown these people can ignore the worst of economic news.
From my inexperienced trading eye it looks like we could push up to ~4200 - 4400 over the next few months, around to Oct/Nov we're we could get some pretty poor economic news which could send us back down. I have a few longs with tight stops, but am not entering any new trades until the stress test release on thursday, apparently this could be delayed though????? As you said though, it is very confusing times these markets are very crazy!
wonder.
Being short would seem dangerous due to the fact that the charts alone are quite bullish; except the fast stockastic indiactor which is approaching an overbought stage.
We must remember though that the stockmaret is not the economy, and is irrational, it is made up of the smartness and stupidness of the public, and as the past few months has shown these people can ignore the worst of economic news.
From my inexperienced trading eye it looks like we could push up to ~4200 - 4400 over the next few months, around to Oct/Nov we're we could get some pretty poor economic news which could send us back down. I have a few longs with tight stops, but am not entering any new trades until the stress test release on thursday, apparently this could be delayed though????? As you said though, it is very confusing times these markets are very crazy!
wonder.- Joined
- 22 June 2006
- Posts
- 198
- Reactions
- 0
Re: XAO Analysis
well i did say a few days back if th xao closes above 3800 i am in! therefore i am going to start buying as today was a huge day for the market, wasnt expecting a 2.8% rise!
i think i am more bullish now than bearish, im definately leaning towards the bull camp now.
well i did say a few days back if th xao closes above 3800 i am in! therefore i am going to start buying as today was a huge day for the market, wasnt expecting a 2.8% rise!
i think i am more bullish now than bearish, im definately leaning towards the bull camp now.
- Joined
- 19 October 2008
- Posts
- 24
- Reactions
- 0
Re: XAO Analysis
My view is that the bulls are still completely in control of this rally atm, and we may be heading into the 4000-4100 range very soon (catalyst = US bank stress test = great results, no one in trouble?? I'm sure Obama government will put a positive spin on it somehow)
However, in the vvery short term, I believe we are overbought, especially at the end of today, which was very wild and overly optimistic IMO. For us to even keep at this level tomorrow, I think you'd need at least a 2-3% rally in the US markets tonight (whereby the US futures are saying otherwise for the entire day, thats why I was confused with such a massive divergence). If the US market stays flat tonight, we may very well see a short term retracement.
Anyway that's just my view, markets are always changing and weird!! thats why it's fun
My view is that the bulls are still completely in control of this rally atm, and we may be heading into the 4000-4100 range very soon (catalyst = US bank stress test = great results, no one in trouble?? I'm sure Obama government will put a positive spin on it somehow)
However, in the vvery short term, I believe we are overbought, especially at the end of today, which was very wild and overly optimistic IMO. For us to even keep at this level tomorrow, I think you'd need at least a 2-3% rally in the US markets tonight (whereby the US futures are saying otherwise for the entire day, thats why I was confused with such a massive divergence). If the US market stays flat tonight, we may very well see a short term retracement.
Anyway that's just my view, markets are always changing and weird!! thats why it's fun
Re: XAO Analysis
Lol lets see how this all pans out. As i mentioned in my other post about the SPI200, I am still heavily short. And today i got absolutely hammered.
But does anyone know the volume of the All Ords today? or the S&P200? the only reason i see for this is institutional selling, and God do I hope that someone can confirm this!
Lol lets see how this all pans out. As i mentioned in my other post about the SPI200, I am still heavily short. And today i got absolutely hammered.
But does anyone know the volume of the All Ords today? or the S&P200? the only reason i see for this is institutional selling, and God do I hope that someone can confirm this!
Re: XAO Analysis
Strong day outside BB, couple more up days tues, wed?(xjo)
And if kennas triangle thingy plays out(up trend tri? close enough)+ possible old resistance points we are looking at playing with the 3980-4000(xjo) mark
Hard to tell with so much market manipulation by the insto's and US govt though.
Sorry for the xjo charts (and crappy quality)
Strong day outside BB, couple more up days tues, wed?(xjo)
And if kennas triangle thingy plays out(up trend tri? close enough)+ possible old resistance points we are looking at playing with the 3980-4000(xjo) mark
Hard to tell with so much market manipulation by the insto's and US govt though.
Sorry for the xjo charts (and crappy quality)
- Joined
- 27 February 2008
- Posts
- 4,670
- Reactions
- 10
Re: XAO Analysis
pointed at the vols earlier but got ignored because the poster obviously thinks he too refined to chat to me
on the short subject . currently on bhp at 33.10
pointed at the vols earlier but got ignored because the poster obviously thinks he too refined to chat to me
on the short subject . currently on bhp at 33.10
Re: XAO Analysis
Haha since when do I think i am too refined to chat with you?? I actually noticed that post. But I was after the physical numbers... I hope your analysis is right about the false break.. lol. As you may or may not know I have a really heavy position riding on it.. Do you know the numbers that i referred to by any chance?
pointed at the vols earlier but got ignored because the poster obviously thinks he too refined to chat to me
on the short subject . currently on bhp at 33.10
Haha since when do I think i am too refined to chat with you?? I actually noticed that post. But I was after the physical numbers... I hope your analysis is right about the false break.. lol. As you may or may not know I have a really heavy position riding on it.. Do you know the numbers that i referred to by any chance?
- Joined
- 22 June 2006
- Posts
- 198
- Reactions
- 0
Re: XAO Analysis
ivant, when did you enter your short position? what points on the xao?
ivant, when did you enter your short position? what points on the xao?
- Joined
- 14 June 2007
- Posts
- 1,130
- Reactions
- 3
Re: XAO Analysis
Given how Asia performed today, I'm surprised we didn't go higher. That's some serious movement.
http://finance.yahoo.com/intlindices?e=asia
Given how Asia performed today, I'm surprised we didn't go higher. That's some serious movement.
http://finance.yahoo.com/intlindices?e=asia
Attachments
Re: XAO Analysis
About 100 points lower on the SPI200. My average entry is 3785ish
About 100 points lower on the SPI200. My average entry is 3785ish
- Joined
- 27 February 2008
- Posts
- 4,670
- Reactions
- 10
Re: XAO Analysis
LOL wasnt you i was referring too , your cool, your heads not stuck in ya rectum unlike poster it was inteneded for
sorry have no trade platforms or squat open at present .but recall seeing it around the 1.4 billion mark in the arvo re xjo
LOL wasnt you i was referring too , your cool, your heads not stuck in ya rectum unlike poster it was inteneded for
sorry have no trade platforms or squat open at present .but recall seeing it around the 1.4 billion mark in the arvo re xjo
Re: XAO Analysis
Lol, good good. I'm glad. I though I snobbed you in some post. Although the rectum is actually a fun location for one's head hahaha.
Thanks for the number
Lol, good good. I'm glad.
I though I snobbed you in some post. Although the rectum is actually a fun location for one's head hahaha. Thanks for the number
Trembling Hand
Can be found on the bid
- Joined
- 10 June 2007
- Posts
- 8,852
- Reactions
- 204
Re: XAO Analysis
Well there you go. Just another of many examples where Asia set the scene not lags it.
However, in the vvery short term, I believe we are overbought, especially at the end of today, which was very wild and overly optimistic IMO. For us to even keep at this level tomorrow, I think you'd need at least a 2-3% rally in the US markets tonight (whereby the US futures are saying otherwise for the entire day, thats why I was confused with such a massive divergence). If the US market stays flat tonight, we may very well see a short term retracement.
Anyway that's just my view, markets are always changing and weird!! thats why it's fun
Well there you go. Just another of many examples where Asia set the scene not lags it.
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,018
- Reactions
- 11,006
Re: XAO Analysis
Especially in a general uptrend hanging off a stick. Surprising how many are out in the woods at the moment.
I love triangely things!
Especially in a general uptrend hanging off a stick. Surprising how many are out in the woods at the moment.
- Joined
- 27 February 2008
- Posts
- 4,670
- Reactions
- 10
Re: XAO Analysis
added to position at 34.45........ will add one more parcel at around 35 ish IF it gets there ....... stop set at 35.60
unhappy to be wrong
added to position at 34.45........ will add one more parcel at around 35 ish IF it gets there ....... stop set at 35.60
unhappy to be wrong
- Joined
- 29 May 2008
- Posts
- 677
- Reactions
- 0
Re: XAO Analysis
anywhere i can find what economic news is due out in the states tonight?
we finally hit that top that everyone has been calling for the last 2 weeks?
anywhere i can find what economic news is due out in the states tonight?
we finally hit that top that everyone has been calling for the last 2 weeks?
prawn_86
Mod: Call me Dendrobranchiata
- Joined
- 23 May 2007
- Posts
- 6,637
- Reactions
- 7
Re: XAO Analysis
I guess if we tested 3800 and it held that would be a big positive, old resistance turning into new support. But who knows what will happen, seems as though our rally yesterday was in anticipation of last nights DOW move.
I guess if we tested 3800 and it held that would be a big positive, old resistance turning into new support. But who knows what will happen, seems as though our rally yesterday was in anticipation of last nights DOW move.
- Joined
- 29 May 2008
- Posts
- 677
- Reactions
- 0
Re: XAO Analysis
yeh definitely appears so, yesterday was unrelenting buying all day, one of those days index traders love i guess.
set the position, let it runnnnnnnnnnnnnnnnnnnnnnn
yeh definitely appears so, yesterday was unrelenting buying all day, one of those days index traders love i guess.
set the position, let it runnnnnnnnnnnnnnnnnnnnnnn
- Joined
- 27 February 2008
- Posts
- 4,670
- Reactions
- 10
Re: XAO Analysis
http://money.cnn.com/data/premarket/
has an economic calender on there giving dates and news due
http://money.cnn.com/data/premarket/
has an economic calender on there giving dates and news due