Sean K
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Failing at the potentially bullish support line means more sideways to down for the minute. Agree with 4300 around the support line and also 200d ma. From there probably back up towards resistance but then who knows.I think another down day tomorrow to give a lower low pivot - target 4300 approx.
Then a push back up to 4370 approx.
Then back down.
So folks, are through yet or not? The XAO has been much cleaner and obeying the rising support trend-line than the XJO. We have through the danger zone again and if this continues, we have to believe we are in an up-trend. The only worrying thing for me is that net volume on up days is less than met volume on down days, hence the OBV is trailing off, even though prices are moving higher. A sign of weakness? I can't find a precedent for this kind of divergence before on an the XAO so I am not sure what to make of it.
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Well, it's time periods really.As Alan Kohler said on the tele tonight, the aussie share market is trending up, down and sideways. It just depends on how you read the chart.
Can someone assist me with the XJO.
If I look at the intraday OHLC chart for y/d it effectively opened strong then fell away all day, yet if I look at a daily OHLC chart it gives the impression that it gapped up slightly, ran up quite a number of points then fell away.
I understand that this is due to the ASX openeing in tranches over the first 10 minutes of the day but it greatly influences the visual interpretation of the days trading. Is there away around this?
Still struggling with it.
My understanding is the futures value will be slightly different to the cash market?
ie if you look at the futures from 10-4 mon to friday, they don't match up with what the asx 200 is doing in the cash market exactly.
Am I correct in saying that the graph you posted shows the gaps/correct action from day to day (as it only shows the data in the hours the cash market is open) but the numbers wont correspond exactly?
Quack. The resistance across 4500 from Jul 11 ish looks like next hurdle.If it walks like an uptrend and quacks like an uptrend, its an uptrend.
Agree, but would be even more convinced if the 4400 ish line was tested and proved support again.No surprises here, just how long to get through is the question I guess !
(click to expand)
Agree, but would be even more convinced if the 4400 ish line was tested and proved support again.
Not to beat into proverbial bear drum but there is a clear divergence between Volume Weighted MACD and the price action in the last 3 months. We are due for correction in the near term in my opinion.
Surely that squiggly line is just a showing the reduction in volatility since Sep Oct last year?
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