XAO Technical Analysis

makingmoney · 3 June 2009

Re: XAO Analysis

Real1ty said:
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...

maybe...but with this morning news on american papers saying job cut should had shown a better reaction..and also with only 1hr and 30mins to go before the dow opens ...its a good indication,that the dow will head low with there futures now @ 41 its moving quickly..my post was orginally @ 3pm today..so it was a good call)

makingmoney · 3 June 2009

Re: XAO Analysis

just the indices...nothing to bold..i dont play cfd or options to much..i got burnt to hard on rio..on a cfd when it was $60 one day and $40 the next..i usally just by stock in large volume and using lvr from bt lending to extend it like a cfd..but not as much risk..only problem u can only gain from a up not a short

nomore4s · 3 June 2009

Re: XAO Analysis

makingmoney said:
maybe...but with this morning news on american papers saying job cut should had shown a better reaction..and also with only 1hr and 30mins to go before the dow opens ...its a good indication,that the dow will head low with there futures now @ 41 its moving quickly..my post was orginally @ 3pm today..so it was a good call)

It is still a long way till the close and -41 is hardly earth shattering. The US could do anything by the close - Down 100+ points or UP 100+ points or anything in between. At best the futures only point to the open.

Also it remains to be seen what effect a 100+ down day will have on our market, with the current strength it could be minimal or it could mean 100+ down day for us as well.

makingmoney · 3 June 2009

Re: XAO Analysis

nomore4s said:
It is still a long way till the close and -41 is hardly earth shattering. The US could do anything by the close - Down 100+ points or UP 100+ points or anything in between. At best the futures only point to the open.

Also it remains to be seen what effect a 100+ down day will have on our market, with the current strength it could be minimal or it could mean 100+ down day for us as well.

hmmm 61 points down and climbing...^^^ u saying what effect the dow has on our market if any +100 or down...hmm do u day trade.....we mirror image the dow..if it has a bad day so do we..."if america sneezes the world catchs a cold" end quote..not saying we following it 100% but i say 95% chance if the dow is down...we follow the next day some what the same..

makingmoney · 4 June 2009

Re: XAO Analysis

well thats me 4 2nite the dow has opened atm at 10am in america its 100points down..) meh im happy...

Dr_Colossus · 4 June 2009

Re: XAO Analysis

Dont be surprised if the DOW closes in positive territory.
Currently down 103.
Too early to call yet.

Largesse · 4 June 2009

Re: XAO Analysis

S & P to hold 930?

carnnnnnnnnnnnn

sammy84 · 4 June 2009

Re: XAO Analysis

makingmoney said:
hmmm 61 points down and climbing...^^^ u saying what effect the dow has on our market if any +100 or down...hmm do u day trade.....we mirror image the dow..if it has a bad day so do we..."if america sneezes the world catchs a cold" end quote..not saying we following it 100% but i say 95% chance if the dow is down...we follow the next day some what the same..

Look back at past figures and you will be actually be surprised how little we mirror the dow. If only it was so easy to trade on that theory. The XAO is rather forward looking IMO, and often is the first market to signal another move is on the way.

Trembling Hand · 4 June 2009

Re: XAO Analysis

makingmoney said:
hmmm 61 points down and climbing...^^^ u saying what effect the dow has on our market if any +100 or down...hmm do u day trade.....we mirror image the dow..if it has a bad day so do we..."if america sneezes the world catchs a cold" end quote..not saying we following it 100% but i say 95% chance if the dow is down...we follow the next day some what the same..

Nope, you are wrong. 95%!!

nomore4s · 4 June 2009

Re: XAO Analysis

Trembling Hand said:
Nope, you are wrong. 95%!!

lol, I couldn't be bothered arguing the point.

Down a measley 65 odd points. The bears should probably take more notice of the fact gold, oil & copper all came down, this could potentially have more effect on our market imo.

Sean K · 4 June 2009

Re: XAO Analysis

nomore4s said:
Down a measley 65 odd points. The bears should probably take more notice of the fact gold, oil & copper all came down, this could potentially have more effect on our market imo.

Yeah, but I wonder what Australia being out of (official) recession means. It's international news. Or, news has nothing to do with how the market moves.

makingmoney · 4 June 2009

Re: XAO Analysis

sammy84 said:
Look back at past figures and you will be actually be surprised how little we mirror the dow. If only it was so easy to trade on that theory. The XAO is rather forward looking IMO, and often is the first market to signal another move is on the way.

like i said i plucked 95% as a number..no fact..but u say we dont follow international markets like the dow or ftse 100..hmm well rio on bhp where both down 4% on the ftse 100 last night..ur reakon rio or bhp well have gains today....hmm i think not...as with the dow being down..if think that well help the xao...hmm four past consec gains on the xao...hmm like i said yesterday at 3.00pm post i cant see xao doing no ups today..but thats just me..(a every day trader)

Trembling Hand · 4 June 2009

Re: XAO Analysis

kennas said:
Yeah, but I wonder what Australia being out of (official) recession means. It's international news. Or, news has nothing to do with how the market moves.

But its yesterdays news. That only matters to people like makingmoney and the talking heads. They worry about what the dow did last night. What is in the papers this morning from yesterday.

Whats gonna happen tomorrow is the question.

Real1ty · 4 June 2009

Re: XAO Analysis

Well done makingmoney on your call, you were right.

The above replies have summed up my thoughts.

korrupt_1 · 4 June 2009

Re: XAO Analysis

Trembling Hand said:
Whats gonna happen tomorrow is the question.

the sun will rise...
i will take my morning ****...
... and fade what the DOW does the night before

makingmoney · 4 June 2009

Re: XAO Analysis

well im not here to argue with anyone just trying to give other traders get the inside edge on the xao and help with more thts..the more information u guys have at hand the better traders we can all be ,either u follow techinical data or information or both..i follow both..but seems i might end posting my thts..seems u get sledged..well guys gl with trading today ciao 4 now

nunthewiser · 4 June 2009

Re: XAO Analysis

makingmoney said:
well im not here to argue with anyone just trying to give other traders get the inside edge on the xao and help with more thts..the more information u guys have at hand the better traders we can all be ,either u follow techinical data or information or both..i follow both..but seems i might end posting my thts..seems u get sledged..well guys gl with trading today ciao 4 now

um the trick is ............... dont be so sensitive about things

post your thoughts and grin when your right

Sean K · 4 June 2009

Re: XAO Analysis

My potential H&S didn't work out with that bar in the green circle pushing through, and then obviously cracking the previous high at 3930/40 ish, dished it completely.

If that level (now weak support) doesn't hold, then need those other blue lines to play the game, or need to revise this nice bear bounce.

I suppose the EW'ers can re-lable yesterday with another C, or 2 ....

Porper · 4 June 2009

Re: XAO Analysis

kennas said:
EW'ers, when does the running flat W4 analysis be proved incorrect?

There is no wonder EW'ers have stopped posting with the constant inuendo's going on.

Anyway, for those genuinely interested 3998.50 is the magic figure, so very close to yesterdays high would be the typical retracement area for a running or expanded flat correction wave B. The US markets have a way to go though, with the S&P500 being able to get to 994.97 before seriously questioning the wave count.

As I have said numerous times, if you were to just use E.wave as a stand alone system in trading set ups you will lose money in my opinion.

drsmith · 5 June 2009

Re: XAO Analysis

It will be interesting to see the short term reaction to this.

http://www.theaustralian.news.com.au/business/story/0,28124,25588971-643,00.html

XAO Technical Analysis

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