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XAO Technical Analysis

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Re: XAO Analysis

Likely this could be wave "B" in an ABC correction.
Giving the final completion of the 3 wave counter move in this Down trend a target of 4613
Trading below 4299 would prove this analysis wrong.
If correct then we would see a completion of the corrective move with a further 5 waves down.
 
Re: XAO Analysis

tech/a said:
Likely this could be wave "B" in an ABC correction.
Giving the final completion of the 3 wave counter move in this Down trend a target of 4613
Trading below 4299 would prove this analysis wrong.
If correct then we would see a completion of the corrective move with a further 5 waves down.
Click to expand...

Yeah, I'm still fairly bullish based on a FA.

On TA I'm looking for at least 4613, maybe 4850ish from a H&S target.

This next leg up should define whether it's a 3 of a continuing uptrend or B of a correction.
 

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Re: XAO Analysis

XJO still on track with analysis.
this is a daily.

Click to enlarge.
 

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Re: XAO Analysis

dutchie said:
tech/a thanks for the chart

(shouldn't the fib. 1.00 be placed on the blue circled 2?)
Click to expand...

Sure can be if your looking for the retracement of the wave 3.
I'm looking at the corrective % for the whole move High to Low.
 
Re: XAO Analysis

Is everyone still bullish?

I'm still happy with 4850ish from that H&S target, if nothing else to pin a number on.

Also thinking we're about at a minute iii of a minor iii wave, hence a decent kick is coming up.
 
Re: XAO Analysis

Whiskers said:
I'm still happy with 4850ish from that H&S target, if nothing else to pin a number on.
Click to expand...

looks feasible Whiskers, should be plenty of shorts out there to help push it higher for a while, altho we're bound to get bumps along the way
 
Re: XAO Analysis

Reckon the next shoe to drop is one of 3 things:

- Portugal downgrade
- Chinese/US trade wars
- G20 finmin meeting on financial regulation

Whichever is first will spark the next down leg.
 
Re: XAO Analysis

MRC & Co said:
Reckon the next shoe to drop is one of 3 things:

- Portugal downgrade
- Chinese/US trade wars
- G20 finmin meeting on financial regulation

Whichever is first will spark the next down leg.
Click to expand...

Agree, particularly battles on trade and perceptions of currency manipulations. Another factor are indications by European nations and the UK to reduce spending on defence, some by up to 30%, is going to make US military producers disturbed.

There are a lot of very complex intertwined issues quite apart from what we have understood on the GFC coming to a head of late. We need someone to shine a torch.

Bothersome times indeed IMO
 
Re: XAO Analysis

BNECBD_DayTrader said:
Throw up a chart Whiskers... :D
Click to expand...

Maybe tomorow mate. I,ve got some software problems atm... but still the same as above chart with some (dubious :eek: ) minute and minor EW counts on the more recent candles.

Edwood said:
looks feasible Whiskers, should be plenty of shorts out there to help push it higher for a while, altho we're bound to get bumps along the way
Click to expand...

Yep, looks like it was a little bump today.

MRC & Co said:
Reckon the next shoe to drop is one of 3 things:

- Portugal downgrade
- Chinese/US trade wars
- G20 finmin meeting on financial regulation

Whichever is first will spark the next down leg.
Click to expand...

The Chinese/US trade war certainly has the potential to hick-up the market, but I think I'll go with financial regulation as the next big thing to move the market since it's been my favourite hobby horse since the GFC and seems to have faded into the background with Obama being pre occupied with the BP spill... but I'm not sure it will move the market down. Depending what unfolds it might just be the trigger to give retail investors confidence to dip in a bit more.
 
Re: XAO Analysis

Whiskers said:
The Chinese/US trade war certainly has the potential to hick-up the market, but I think I'll go with financial regulation as the next big thing to move the market since it's been my favourite hobby horse since the GFC and seems to have faded into the background with Obama being pre occupied with the BP spill... but I'm not sure it will move the market down. Depending what unfolds it might just be the trigger to give retail investors confidence to dip in a bit more.
Click to expand...

Banks are listed companies, cutting their bottom line ----------> falling share price.
 
Re: XAO Analysis

MRC & Co said:
Banks are listed companies, cutting their bottom line ----------> falling share price.
Click to expand...

Yep, that's true... but the bottom line for the whole financial sector (not just banks) has been very volatile under current regulation, completely wipeing out many financial institutions and putting a suspicious/cautious cloud over the whole market.

Assuming the regulation and oversight is done well, as the key players driving tighter regulation are trying to prevent the GFC type crisis/losses and necessary bailout's again... I'm thinking stronger invester confidence should return to financials and the whole market generally.

My main premise for this is that people generally would prefer not to invest in a company if they thought it could be responsible for, or caught up in a GFC type incident again... that they would put a higher premium on a more stable business reigned in by good regulation and oversight than one that had free reign to exploit the system too far and bust at a moments notice.

I think if people had a choice of risking their capital for those type of risky returns again v tighter regulated and less extreme returns and risk of loosing their capital... they mostly would choose the later.
 
Re: XAO Analysis

BNECBD_DayTrader said:
Throw up a chart Whiskers... :D
Click to expand...

There you go mate... but as I say my minute count (yellow) in particular is dubious since I don't go to a lot of trouble with it unless I'm in a trade and I don't trade indicies.

But, looking at it a bit closer now... I like it. ;)
 

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Re: XAO Analysis

tech/a said:
Likely this could be wave "B" in an ABC correction.
Giving the final completion of the 3 wave counter move in this Down trend a target of 4613
Trading below 4299 would prove this analysis wrong.
If correct then we would see a completion of the corrective move with a further 5 waves down.
Click to expand...

tech/a said:
XJO still on track with analysis.
this is a daily.

Click to enlarge.
Click to expand...

Going down!
 
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