Australian (ASX) Stock Market Forum

XAO Technical Analysis

Jump to new
Re: XAO Analysis

Who cares what other people think so long as your making money off the move
 
Re: XAO Analysis

Dark1975 said:
I actually stated this on threads before hand two weeks ago,And actually i see alot of threads of recent saying "no the bulls are in control at the moment",Actually im making a statement which many people don't make on this site,I mean there quick to dis-credit information but they dont state there thoughts on the future direction of the market.Think cause there not sure or there worried they might be wrong and there bruise there ego.
Me personally i could be wrong but my guess is the market will pull back 4100-4150 range in the next few weeks.
What's your thoughts mate on the future direction of the market?
Click to expand...

Wait...so, what are you saying? This is the beginning of the move down to break the march lows? Sounds to me like a "pull back" to 4100 implies the "bulls are in control" ? Which is what "alot of threads are saying". So you're no different to everyone else? Would you like a medal? :p:
 
Re: XAO Analysis

skc said:
I hope so too for the sake of my super funds.

That's an hourly chart BTW. I would post a XAO chart if I had one.
Click to expand...

Ohh didn't see that. This triangle is over a few days so it may have some value.
Its moving too slow though, we'll see how it fares over lunch.
 
Re: XAO Analysis

i think its hard to remain bullish at the moment.... too much bad info contradicting the rises

think metals will have to pull back after the "de-stock, re-stock" we've just seen... even Klopers is saying the prices are overcooked and the outlook isnt great........ when BHP AND RIO are telling you the outlook isnt great i think you listen!

US job losses STILL increasing.... US late mortgage payments increased to a record - 1 in 8 yanks are either delinquent or in the foreclosure process... and has moved to "prime" mortgages because of job losses....... and the US banks go up :confused: :confused: :confused: :confused:

So, i'm pretty bearish at the moment.
 
Re: XAO Analysis

ThingyMajiggy said:
Wait...so, what are you saying? This is the beginning of the move down to break the march lows? Sounds to me like a "pull back" to 4100 implies the "bulls are in control" ? Which is what "alot of threads are saying". So you're no different to everyone else? Would you like a medal? :p:
Click to expand...

Im saying the pull back will be in the next few weeks around 4100-4150,And actually it does say weeks,not months.
Cause generally I havn't got time to ramble all day cause i am trading 5 CFD shorts at the moment,I'll be back later to further comment.
But if your are asking me of the future circumstances on the xao on the next coming months,The resistance key is 4060(xao).
 
Re: XAO Analysis

Kennas: I'd agree with you in general, but even the charts look as though the current rally (from mid July) is dying.. two failed breaks and today the dominant red candle. But it could equally turn around strongly as you say with some buying to kill the shorts, and scoop up the shallow sell que. So :dunno:

Have been posturising the last couple of days, if we take the current top as 4465.. 4465 - 20% (893) = 3572 .. which would be still quite above the previous low. Back in the "old days" >20% was considered a "crash", so are we headed for another crash? or just a bit of a pulldown to somewhere in the low 4xxx range?

There were a lot that missed out though so far this year, wonder if they will actually take action this time? :)
 

Attachments

  • xao_21Aug09.png
    xao_21Aug09.png
    15.8 KB · Views: 5
Re: XAO Analysis

Dark1975 said:
Im saying the pull back will be in the next few weeks around 4100-4150,And actually it does say weeks,not months.
Cause generally I havn't got time to ramble all day cause i am trading 5 CFD shorts at the moment,I'll be back later to further comment.
But if your are asking me of the future circumstances on the xao on the next coming months,The resistance key is 4060(xao).
Click to expand...

Was only asking you what you were actually trying to say, you were rambling about making statements that no one else makes, when it sounds to me like you're saying the exact same thing as everyone else is.

But anyway, nevermind, I'm with moXJO on this one. Good luck with the shorts :)
 
Re: XAO Analysis

swm79 said:
i think its hard to remain bullish at the moment.... too much bad info contradicting the rises

think metals will have to pull back after the "de-stock, re-stock" we've just seen... even Klopers is saying the prices are overcooked and the outlook isnt great........ when BHP AND RIO are telling you the outlook isnt great i think you listen!

US job losses STILL increasing.... US late mortgage payments increased to a record - 1 in 8 yanks are either delinquent or in the foreclosure process... and has moved to "prime" mortgages because of job losses....... and the US banks go up :confused: :confused: :confused: :confused:

So, i'm pretty bearish at the moment.
Click to expand...
Yeah, but not too much of that has anything to do with the current charts and future direction imo.

We all know the US is bankrupt, California are giving their garbage men IOUs, Australian's unemployment rate is a crock, US unemployment rates are going to 11%, and China is misrepresenting growth, etc etc.

We know this.

The March low factored in quite a lot of the pain, and we will see it.

Market may have overshot itself for now with so much cash on the side people were bound to jump in and many probably have so too late.

For the past 5 months the trend has been to buy on dips, and until some important support levels are broken and punters start to really panic again, that will be the case.

I certainly agree the short term chart/candles look very ordinary....

Longer term, if the debt isn't closed off and inflation controlled, oh dear...
 
Re: XAO Analysis

kennas said:
Yeah, but not too much of that has anything to do with the current charts and future direction imo.

We all know the US is bankrupt, California are giving their garbage men IOUs, Australian's unemployment rate is a crock, US unemployment rates are going to 11%, and China is misrepresenting growth, etc etc.

We know this.

The March low factored in quite a lot of the pain, and we will see it.

Market may have overshot itself for now with so much cash on the side people were bound to jump in and many probably have so too late.

For the past 5 months the trend has been to buy on dips, and until some important support levels are broken and punters start to really panic again, that will be the case.

I certainly agree the short term chart/candles look very ordinary....

Longer term, if the debt isn't closed off and inflation controlled, oh dear...
Click to expand...

Iceland here we (be)come... at least we will have our, err, kangaroos.
 
Re: XAO Analysis

Don't get all bearish guys it's just a flag, 8000 here we come:D


xao.jpg
 
Re: XAO Analysis

kennas said:
Yeah, but not too much of that has anything to do with the current charts and future direction imo.

........

For the past 5 months the trend has been to buy on dips, and until some important support levels are broken and punters start to really panic again, that will be the case.

I certainly agree the short term chart/candles look very ordinary....

Longer term, if the debt isn't closed off and inflation controlled, oh dear...
Click to expand...

but i think it does kennas.

i think the market has been buying the idea of a slowing of bad data.... its jumping on anything it can... and cycling... but the bad data still exists, and its growing. thats my point. soon will come a time when there's no where left to jump.

most of the market is controlled by the US consumer - what are they doing? sitting at home without jobs... and more and more of them are... i think we're just waiting for that info to hit the markets.... but it hasnt seemed to yet :eek:

its the herd at the moment... it has to be... people buying on FY11 forecasts, not FY10

but yeah charts look very very ordinary - esp the large gap formed between us and the S&P
 
Re: XAO Analysis

Real1ty said:
No offense mate but if you think that is panic and a lot of selling, you obviously haven't been in the market for very long.
Click to expand...

lol...nar no panic here ?I've shorted the market the last few days on financials?Going very well:)
But i hear there's alot of traders /wrists on the xao today;)
 
Top