XAO Technical Analysis

nulla nulla · 26 May 2010

Re: XAO Analysis

All the bad news coming out of Europe only serves to amplify the panic in world markets.
The gaps opening up in our markets, as per the post above, show we are heading into oversold areas.
The biggest problem effecting Australia at the moment is the withdrawal of overseas investment from our share market, across the bourse, and the selling off of the Aussie dollar as investors move back to the u.s dollar.
Until that stops, there is only one direction our market will go.

tech/a · 26 May 2010

Re: XAO Analysis

Now I agree with Whiskers.
Particularly after last night and todays trading.

Mind you I still feel the lowest low is still not in yet and wont be until later in the year---but for now I'm confident its in place.
See analysis above for future possible price action.

POST #8063

T/H had it spot--agree.--BROADWAY

Broadway · 26 May 2010

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

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.

crystal ball.

Trembling Hand · 26 May 2010

Re: XAO Analysis

leedskalnin said:
excuse the poor photography

Mate!! Have a look at these threads for ways to capture charts rather than taking photos of the screen!!

https://www.aussiestockforums.com/forums/showthread.php?p=45322
https://www.aussiestockforums.com/forums/showthread.php?t=1401

Broadway said:
crystal ball.

Just goes to show . Punters act the same the world over. You don't need TA you just need an EA.

Now while I've got the markets ear I would like three days of reduced volatility with a gradual up move into Friday. See what you can organise Whiskers.

leedskalnin · 26 May 2010

Re: XAO Analysis

Trembling Hand said:
Mate!! Have a look at these threads for ways to capture charts rather than taking photos of the screen!!

this dog is too old to learn new tricks bud, here's the link http://quote2.fxtrek.com/Misc/promoChart.asp?df=iwizard2 , I dunno how to print it ???

Trembling Hand · 26 May 2010

Re: XAO Analysis

All you have to do is pop the chart out into an individual window which you have done. Hold down the "Alt" button (bottom left of keyboard)and hit the "PrtScrn" button (top right on keyboard)then open Paint which you will find under Start>Programs>Accessories and hit "Ctrl" & "V". then save somewhere you can find it later to post as an attachment.

sammy84 · 26 May 2010

Re: XAO Analysis

If this an analysis or how to print screen thread

Looks like there will be a few trying to fade the market today, still might be the potential for a squeeze later in the day. Volumes haven't been that high the last few days however, so there might not be that many shorters to squeeze.

explod · 26 May 2010

Re: XAO Analysis

tech/a said:
Now I agree with Whiskers.
Particularly after last night and todays trading.

Mind you I still feel the lowest low is still not in yet and wont be until later in the year---but for now I'm confident its in place.
See analysis above for future possible price action.

POST #8063

T/H had it spot--agree.--BROADWAY

Agree t/a, it is now in a down trend and the low pointer of the other week will be confirmed in the next few trading days. Unfortunately there does not seem to be a lot of support beyond that..

It will show us the way.

Trembling Hand · 26 May 2010

Re: XAO Analysis

sammy84 said:
If this an analysis or how to print screen thread

Neither. Its a place for smart A@#$ and A-Holes it seems.

leedskalnin · 26 May 2010

Re: XAO Analysis

Trembling Hand said:
All you have to do is pop the chart out into an individual window which you have done. Hold down the "Alt" button (bottom left of keyboard)and hit the "PrtScrn" button (top right on keyboard)then open Paint which you will find under Start>Programs>Accessories and hit "Ctrl" & "V". then save somewhere you can find it later to post as an attachment.

Thanks TH , and now that I know how to print thanks Sammy here is some Dow analysis directly related to XAO analysis.

20 may and 25th weekly show completed RH side of head of H&S
26 may is yet to be completed tomorrow , so my best guess is a down day Dow 9910ish then up we go.

tech/a · 26 May 2010

Re: XAO Analysis

leedskalnin said:
Thanks TH , and now that I know how to print thanks Sammy here is some Dow analysis directly related to XAO analysis.

20 may and 25th weekly show completed RH side of head of H&S
26 may is yet to be completed tomorrow , so my best guess is a down day Dow 9910ish then up we go.

Is there a chart in there somewhere.
Looks like a Road map for Sydney to Melbourne.

explod · 26 May 2010

Re: XAO Analysis

tech/a said:
Is there a chart in there somewhere.
Looks like a Road map for Sydney to Melbourne.

Or another assault on Mount Everest in an abstract way.

Darryl Morely in the herals Sun was talking about the All Ords today and said:-

The All Ords is made up of about 500 stocks and when the shares of a comapny fall in price and its market capitalisation falls below a certain level, the stock is removed from the index.

Conversely, as other stocks increase in capitalisation they are added to the index.

In effect, poor performers are removed and rising stars are added so that, over time, the index must rise, as it always contains the better performing stocks

If we look at the Dow, Fannie Mai and Freddie Mack were removed as were some of the giant banks that collapsed. So what does that really say about markets and the great fiancial wizzes who say, hold for the long term Son. Of course proper funds add and drop them off too but most people I suspect think its all just wonderful when in fact its all c...pola

Anyway just some musings and off topic interference in your analysis guys.

Trembling Hand · 26 May 2010

Re: XAO Analysis

explod said:
Anyway just some musings and off topic interference in your analysis guys.

You needed the Herald Sun to tell you that!

leedskalnin,

what is that?

dlineinvestor · 26 May 2010

Re: XAO Analysis

The market is waiting ....

explod · 26 May 2010

Re: XAO Analysis

Trembling Hand said:
You needed the Herald Sun to tell you that!

leedskalnin,

what is that?

Gee you give me a hard time, I realised it many years back, is why I am so sardonic at the markets et al., but thought others may benefit from the ramblings. I will just have to go away all together with meself. But you could be right, only bright sparks on this thread anyway.

Sorry to be off topic

Logique · 26 May 2010

Re: XAO Analysis

Leg down to 4,000 -on the UKX (FTSE100) perhaps, chart below. W-shaped recovery (I hope). The engine driving this market is the fear in Europe, and that's frustrating, because the economic recovery in the US looks steady.

I don't understand Elliott Waves, and must make do with a more primitive analysis, but the import of the FTSE100 chart below is quite clear to me.

If you think its avoidable then you must think we'll magically start getting positive announcements out of Europe. Or that the Australian proposed RSPT will magically disappear, although that has adopted lesser significance now in comparison to the shadow cast by Europe.

Don't mean to rain on anyone's parade, I'd like nothing better than the XAO to bounce off 4,000 support. But this is starting to look horribly like the same time last year.

namrog · 26 May 2010

Re: XAO Analysis

Trembling Hand said:
leedskalnin,

what is that?

Have a close look at the chart and leedskalnin's avatar, and the chart certainly looks like Duby's arm, hand, and finger ??

nunthewiser · 26 May 2010

Re: XAO Analysis

Trembling Hand said:
Neither. Its a place for smart A@#$ and A-Holes it seems.

Hehehehe

Amen.

by the way , good call.

tech/a · 26 May 2010

Re: XAO Analysis

Trembling Hand said:
Neither. Its a place for smart A@#$ and A-Holes it seems.

Personally I wouldnt have been so harsh on myself!

dlineinvestor · 26 May 2010

Re: XAO Analysis

Probably a bit bold ... probably just a hunch ...

Is it possible that we are nearing this correction ?

That chart I posted in #8114 has substance recovery signals in it.
1 Positive divergence on a daily is some thing to consider and
2 There is a surprising amount of rejection of the lows too .... ??? ...

Myself I have not heard of any amplified negative tones on the crisis in europe in fact I can't find much on the subject other than the obvious reasons it started.
Korean tensions have gone quiet.

I've missed the bottom twice now and certainly don't want that to happen again.

Will have to wait and see

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