Australian (ASX) Stock Market Forum

XAO Technical Analysis

Jump to new
Re: XAO Analysis

Trembling Hand said:
I thought most indicators have been showing over bought for a month or so. Would that mean the dumb people would of sold out/ shorted?
Click to expand...

RSI isnt overbought, coppock indicator has turned around, 5-year chart *looks* like the worst is over, MACD isn't overbought (it has also just crossed up past its EMA, a buy signal), 25MA has crossed over 50MA and they are both about to cross 200MA.

I'll give it that the index is hitting upper bollinger band, and stochastic is indicating over bought.

But no, i don't think said dumb people wont be shorting. I did read another post of yours saying that you saw some heavy resistance up there, so considering this, if it holds up, i think we will continue to see sideways action as skyquake mentioned (with the dumbies buying and smarties selling).

Im bearish for the next two or so days (would like to see some profit taking at this resistance), bullish for a few weeks and bearish for a fair few months.
 
Re: XAO Analysis

for what its worth , ive been stopped out of 2 positions today .short .still in BHP tho
 
Re: XAO Analysis

If i might add, we are also no technically in a recession anymore either (as TH has mentioned in another thread), if thats not bullish i don't know what is.
 
Re: XAO Analysis

Naked shorts said:
If i might add, we are also no technically in a recession anymore either (as TH has mentioned in another thread), if thats not bullish i don't know what is.
Click to expand...


LOL what happens when the stimulas figures are no longer counted :)

bless them lil number manipulating factors
 
Re: XAO Analysis

hmm resistance has 2 be 4000 on the xao...with ppl still buying overpriced stocks and false leads from the dow..i thinking the next few days will shape a new resistance band of 3700-4000 (xao) my personal thts is that seiing the dow do 4 consective days in a row theres gonna be at least 2 days of downs..but given america is the king of propaganda and turning out bad news into good news..e.g gm...i think its gotta retract sooner than l8tr ....anyway gotta love nab today with ex-divid on the 4th..im been cutting the market 3 times 2day..gotta love how ppl buy up the day before ex-divid day..:)
 
Re: XAO Analysis

out of all short positions . i may be silly but i aint stupid ...... cant stop a train with my forehead ........
 
Re: XAO Analysis

nunthewiser said:
out of all short positions . i may be silly but i aint stupid ...... cant stop a train with my forehead ........
Click to expand...
^^^^^AGREED...alot of bulls..but ppl buying overbought stock..i dk..but the steam might run..out soon...c what the dow does..a fifth consective day...i highly doubt it..but thats my thts..im running shorts..on the xao tomorrow..
 
Re: XAO Analysis

makingmoney said:
^^^^^AGREED...alot of bulls..but ppl buying overbought stock..i dk..but the steam might run..out soon...c what the dow does..a fifth consective day...i highly doubt it..but thats my thts..im running shorts..on the xao tomorrow..
Click to expand...

happy to jump back in on a moments notice just rather nurse my longs at present rather than enter ANYTHING today . we on a edge now .... could be a strong move either way and im not content to get caught on any gaps if i pick the wrong direction
 
Re: XAO Analysis

makingmoney said:
^^^^^AGREED...alot of bulls..but ppl buying overbought stock..i dk..but the steam might run..out soon...c what the dow does..a fifth consective day...i highly doubt it..but thats my thts..im running shorts..on the xao tomorrow..
Click to expand...

Not making as much sense as you might if you spoke English.
 
Re: XAO Analysis

Naked shorts said:
I think that all these technical indicators flying off will get all the new people to technical analysis (lots of people (dumb people)) buying because they would be under the impression that technical analysis can predict the market. I think this will cause further strength... but the momentum will wear off because the people with experience wont buy into it to keep it going.
Click to expand...

Huh? are you suggesting that the dumb people are those who are influenced by TA..

I mistakenly thought that was the subject of this thread ;)

Regards
Ray
 
Re: XAO Analysis

RayG said:
Huh? are you suggesting that the dumb people are those who are influenced by TA..
Click to expand...

No, I'm saying that all the new people to technical analysis might think that it is a tool that can correctly and accurately predict market movements. That they might think the more technical indicators showing positive signs means the more its going to go up...you know, the things you do when you first get into technical analysis (like adding 50 trillion indicators to your charts).
 
Re: XAO Analysis

actually was rather tempted to re-enter a few shorts today including the XJO at 4000 .but like i said before , trying to stop a freight train with ones forehead is probably not the smartest idea :D... good luck to those currently shorting but me myself may wait until i spot some weakness and cracks appearing ......... currently a few of my longs are looking mighty funky and i think i will just continue to hold and cherish them until such time as my trailing stops start getting attacked


stronger for longer as that other fella keeps saying maybe the motto for now :D

wouldnt actually surprise me to wake up to a mighty red day tommorow but hey would hate to be holding shorts if we get another decent green night

gunna be gap ups all over the shop on the back of breaking 4000
 
Re: XAO Analysis

makingmoney said:
i will fail with that test:p..but was replying to outback.? he said he couldnt understand my last post...what couldnt he understand with my post?:banghead:
Click to expand...

LOL i deleted that post as was mainly being a smartarse :D.....

as you were , that will be a swab test and $300 for costs

thankyou
 
Re: XAO Analysis

anyway i didnt come on this site to argue with people anyway...atm its looking as i said dow is currently 31points down on futures..ftse 100 89points down atm on futures..hmmm excellent smithers my shorts .. 2 morror on the xao is looking good:)..
 
Re: XAO Analysis

makingmoney said:
anyway i didnt come on this site to argue with people anyway...atm its looking as i said dow is currently 31points down on futures..ftse 100 89points down atm on futures..hmmm excellent smithers my shorts .. 2 morror on the xao is looking good:)..
Click to expand...

You might be right but there is a long way to go on the US market tonight before you can start crowing.

Good luck, you might need it...
 
Re: XAO Analysis

makingmoney said:
..atm its looking as i said dow is currently 31points down on futures..ftse 100 89points down atm on futures..hmmm excellent smithers my shorts .. 2 morror on the xao is looking good:)..
Click to expand...


what are you actually "short " on . indicies or individual stocks ?

sorry if i missed any entrys posted , just intrested .
 
Top