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XAO Technical Analysis

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Re: XAO Analysis

Trembling Hand said:
Generally pros will fade the open of days and weeks especially when its against the higher term trend.

Have a look at the way the FTSE has just gone tonight.
Click to expand...

I would love to knows your thoughts on todays price action TH?
 
Re: XAO Analysis

sammy84 said:
I would love to knows your thoughts on todays price action TH?
Click to expand...

any of these would do,

:bricks1:



:fan

:bad:



Of considerable concern is the US futs down some 1.5% from their overnight close. Will be an arvo of carefully watching late Asia, Europe & US open.

Of even more concern is I just read Whiskers bottom call of a few days ago. :
 
Re: XAO Analysis

I dumped several positions on the open this morning from late Thursday buys. Made a bit, lost a bit, happy to be out with this current volatility.

Better to play safe than sorry, defence, defence, defence.

Lots of individual support levels were taken out Friday, with the corresponding bounce that was expected. It is still possible that the Bottom was on Friday, but a new closing low today (XAO) will reduce that likelyhood.

brty
 
Re: XAO Analysis

brty said:
Lots of individual support levels were taken out Friday, with the corresponding bounce that was expected. It is still possible that the Bottom was on Friday, but a new closing low today (XAO) will reduce that likelyhood.
Click to expand...

Best case here for bulls IMO would be a continual fall for Asia into the close, a crap open for Europe resulting in the US opening down over 2% on big volume

Then Whiskers can step up and lift a few 100,000s bids in the futs to bring it back positive. Setting up a nice low print early in the week.
 
Re: XAO Analysis

Capitulation tonight hopefully.

Also MSCI rebal tomorrow. A fair few aussie stock added should have a nice spurt up.
 
Re: XAO Analysis

Trembling Hand said:
Best case here for bulls IMO would be a continual fall for Asia into the close, a crap open for Europe resulting in the US opening down over 2% on big volume
Click to expand...

Yeah, it's a safe bet the bottom will be tested pretty vigeriously for awhile. At least European markets seems pretty even tonight for a change.

Then Whiskers can step up and lift a few 100,000s bids in the futs to bring it back positive. Setting up a nice low print early in the week.
Click to expand...

What with claims major US securities firms are allegedly keeping their hands in their pockets rather than providing liquidity in the market, it could be a rocky bottom... but, I'll give them a call to tell them I've called 'bottom' so they can start buying again.
 
Re: XAO Analysis

Id be suprised if your far off the bottom.
4100 ish for me and <4000 all bets off.
 
Re: XAO Analysis

skyQuake said:
Capitulation tonight hopefully.
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Why capitulation? IIRC, the only reason we capitulated last year was because governments worldwide were throwing money around. Now there's nothing left to give; instead, taxes are being increased/introduced and spending is being cut.
 
Re: XAO Analysis

brty said:
I dumped several positions on the open this morning from late Thursday buys. Made a bit, lost a bit, happy to be out with this current volatility.

Better to play safe than sorry, defence, defence, defence.

brty
Click to expand...

FWIW,

i,m stil in positions , not been stopped out as yet .. still green on MGX BHP .

ANZ PLA both sitting very close to my pre defined stops and dissapointed i missed a quick skim on PLA from other days catch.Tomorows after initial flurry action will decide there fate.

smaller positions wider stops but still a loss nuntheless at present.
 
Re: XAO Analysis

tech/a said:
Id be suprised if your far off the bottom.
4100 ish for me and <4000 all bets off.
Click to expand...

my 3cents worth , if the usd/inx ploughs through 89.92 up to 95ish , yep 4100 (4068 for me) .

excuse the poor photography
 

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Re: XAO Analysis

Personaly I think it is parachute time. The engines are stalling, the wings are falling off and there is a big hole in the floor and I can't see the bottom.
 
Re: XAO Analysis

Next stop 3735?
 

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Re: XAO Analysis

Nulla,

That 3735 level is the next support, it is the level I have been thinking about. Hopefully we don't get there tomorrow

This is set up now that if we don't get a crash/ fat fingers day in the next couple, then it should be looked at as a bullish sign, at least for the short term.

brty
 
Re: XAO Analysis

Well currently the dow futures down -300(not that it will decide the dow's day of trade).Very interesting times.Either way im getting itchy fingers.Any one get that sinking feeling.
 
Re: XAO Analysis

The SPI 200 futs is -10. Just goes to show we dont always follow the DJ especially after a big down day ourselves. Maybe we lead the world, Kevin KRUDD told me so.

We are also nearly smack on the 38% retracement level from trough to peak. Not something I pay to much attention to but never the less it is at that level.

Cheers

Holding both longs and shorts, a bit of a fight between the two.
 
Re: XAO Analysis

Caution:This post is purely speculative and should not be used for financial gain :

If history is anything to go by then from this chart we had a "Top" and we had a "Bottom" and we had the subprime crisis.

So once we learn how severe this Euro crisis and South Korea thing is then we can compare it to the past to guage a poss support level.

In Fib we see 50% as an important level 4062 on this chart.

Is this crisis worse than the subprime ? "Heck of a question"

In many cases I've seen a chart turn in between 50% and 38.2% That would be expected anything below that is not good.

IMO 3760 would be worst case. That's just using my gut.

Just looking at Slow Stochastic a cross on weekly would be a start, looks like we have a way to go.

 

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