XAO Technical Analysis

[Trembling Hand]

If it was a true uptrend should the volume confirm the move?

Why?

And are you sure that indicator actually uses volume? Can you show the formula?

 

[Andruha]

Why?

I would personally like to see increasing or at least average volume while the price are in the uptrend as a sign of conformation. Seeing falling volume while the price are rising in the uptrend makes me cautious that is all.

And are you sure that indicator actually uses volume? Can you show the formula?

Formula is the same as for MACD only instead of using EMAs I'm using volume weighted averages.

 

[Trembling Hand]

I'm using volume weighted averages.

What are they? Volume of what?

 

[Andruha]

What are they? Volume of what?

VWAP = Sum (daily volume x daily price)/Sum (daily volumes)

Sums are done over the period of the average (i.e. 12 day average will sum up daily volumes x daily prices over last 12 days). Daily price suppose to be a typical price but I'm using close only.

 

[Garpal Gumnut]

This has been a hard slog from the bottom and if the XAO falls on Monday, I will be a net seller.

gg

 

[CanOz]

This has been a hard slog from the bottom and if the XAO falls on Monday, I will be a net seller.

gg

Well gg, if history is anything to go by, you won't be missing anything.

Personally i will be waiting until XAO crosses back and closes above the 70 MA :beat:.

CanOz

 

[Sean K]

Agree, but would be even more convinced if the 4400 ish line was tested and proved support again.

Agree, we need a bounce off that area.

(click to expand)

Nope.

Quite a breakdown.

 

[kid hustlr]

Interesting week this week.

Intraday market has actually RISEN each day then we get smashed by overnight news, gap lower and do it all again.

Looks like someone is trying to hold us up.

My guess is they can't keep fighting the good fight for long and we could see another leg down.

 

[CanOz]

Interesting week this week.

Intraday market has actually RISEN each day then we get smashed by overnight news, gap lower and do it all again.

Looks like someone is trying to hold us up.

My guess is they can't keep fighting the good fight for long and we could see another leg down.

hmmm no, it actually happens allot. Even in a bull trend the markets sells off during the day and trends up in the sycom session. Its all driven by the futures Kidh.

CanOz

 

[Trembling Hand]

hmmm no, it actually happens allot. Even in a bull trend the markets sells off during the day and trends up in the sycom session.

That reminds me of something I read once.

http://tremblinghandtrader.typepad.com/trembling_hand_trader/2007/07/spi.html

 

[CanOz]

That reminds me of something I read once.

http://tremblinghandtrader.typepad.com/trembling_hand_trader/2007/07/spi.html

Nice to be able to back it up with data too! Nick did allot of work on this too and my open range system was basically playing on this phenomenon as well, nothing to do with the open range at all.

CanOz

 

[kid hustlr]

That reminds me of something I read once.

http://tremblinghandtrader.typepad.com/trembling_hand_trader/2007/07/spi.html

lolol

Not like I'm gonna think of anything for myself.

edit:

In TH's blog the trend was down also

http://tremblinghandtrader.typepad.com/trembling_hand_trader/2008/06/index.html

 

[Sean K]

WOW, 4500 been tested, but between here and 5000 looks a massive effort to get back on an a general upward trend. If 4500 can be tested as support and survive, looks positive.

 

[Sean K]

WOW, 4500 been tested, but between here and 5000 looks a massive effort to get back on an a general upward trend. If 4500 can be tested as support and survive, looks positive.

4500 short term failure.

Could it bounce? Would be very positive.

If not. Looks poor.

For now.

 

[starman45]

The index is rejected by resistance around 4530. It's necessary to go over this area to the resumption of the uptrend in the short term. Imho.

 

[Sean K]

The index is rejected by resistance around 4530. It's necessary to go over this area to the resumption of the uptrend in the short term. Imho.

View attachment 49627

Some decent support at 4450 ish on your chart.

 

[Sean K]

4450 ish still there, but diagonal uptrend looks gone...

 

[nulla nulla]

Are we North bound or is it too early to break out the champagne?

 

[Sean K]

Breaking 4400 looks pretty negative to me. If it doesn't win that back in the short term, then the Big Bear just keeps on giving it out.

 

[white_goodman]

Breaking 4400 looks pretty negative to me. If it doesn't win that back in the short term, then the Big Bear just keeps on giving it out.

View attachment 49716

so you saying if it doesnt go up its bearish?

that area doesnt look like an area whatsoever to me