And dragged the SPI along. Citi started buying bhp at 1:30 and lots others.Dragggged the SPI up
..and the XJO closes UP 1 point today lol..
Oh Yogi.
Hmm volume has increased NOT demand.
Volume has increased due to selling into muffins.
Rest is rubbish.
Nothing has changed from my original analysis.
Post #6590
Hey Buddy,
You can disagree as much as you like, but the proof is in the pudding.
Look out 4101 - 4116 before the end of August.
It takes guts but sometimes you just have to trade it.
Happy Trading
I'm filing this 'proof' away till August. LOLYou call that "Proof?"
Bounced off that line (so far) but it could be just a pause. Nice pause though. Good to see buyers coming in. Maybe this earnings season is more than factored in and it'll surprise to the upside. Or not...H&S still well in play.Breaking 3800 might be the catalyst, but there's plenty of support around 3700-50 ish. Interesting juncture.
Why people think rising volume is rising demand is beyond meObviously there is a buyer for every seller.
Rising Volume is rising activity.
Depends where it is in the move. A low volume rally is a common occurrence after falls because there is no more sellers. That's very convincing.And rising activity is normally indicative of increased participation in the market, which normally means increased buying demand. I'm not saying that you want ultra high volumes either. But up moves are not too convincing when everyone is standing on the sidelines.
And rising activity is normally indicative of increased participation in the market, which normally means increased buying demand. I'm not saying that you want ultra high voilumes either. But up moves are not too convincing when everyone is standing on the sidelines.
Depends where it is in the move. A low volume rally is a common occurrence after falls because there is no more sellers. That's very convincing.
Volume alone means nothing , you really need to look at the range.
obviously you have to look at the days price action to put the volume in perspective, that goes without saying.
I have been doing some research into other periods were the Aussie stock market has suffered major crashes and due to the XAO's limited history the best one to compare this current one too is the 1987 crash.
Both periods went virtually vertical before the crashes (bubbles growing & bubbles bursting -I have these periods showing up quite clearly on other charts and can post them if anyone is interested). Both periods also suffered around a 50% decline (so far for current crash).
Anyway I'd thought I'd look at some chart patterns from 1987 to see if I could get any idea of what patterns to look for and maybe be able to trade. I was actually quite surprised to see the similarities presented in the charts(weekly) so far. While not identical they are close enough for me to be keeping a closer eye on to see how it plays out from here - remember don't be a dick for a tick.
Disclaimer: This is a look at possibilities based purely on chart patterns and is more for general interest (I found it interesting at least) and discussion then anything else. I'm not comparing fundamentals or economic climates between these eras and tbh have no interest in discussing them.
This range looks important in the short term. Breaking down looks very bearish, where breaking up puts me in a quandary. The market (and you EW fanatics) is supposed to be giving me a chance to invest around the 3000 mark. Maybe that chance has gone. And maybe not. (That's the EW stance too I feel)
As of yesterday just after 4pm I turned bullish again.
Chop chop.
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