XAO Technical Analysis

[nysefloortrader]

Thanks for the charts Tinhat. Interesting!

Above is the weekly chart of the ALL ORDS.

As you can see longer term we are = BULLISH

On the shorter time frame the bears are receiving no love = BULLISH and at new highs.

yes ok, I agree with anyone that says we are overbought, but still no sell signals on the chart.

Normally on the XAO we do get one nice correction each year. So far in 2013 that has not happend. But if it does, that will be a good entry.

As said before XAO does have a habbit of dropping 800 or so points. So that would be a good entry. We have not seen that yet, but maybe later in the year.

I would not be surprised to see the all ords alot higher by the end of this year being 2013. Just a guess. Hope it helps.

 

[VSntchr]

Is that measured in USD?

 

[brty]

NYT,

The all ords is clearly not at all time highs, your chart does not go back far enough, please do more research before stating such things.

 

[burglar]

NYT,

The all ords is clearly not at all time highs, your chart does not go back far enough, please do more research before stating such things.

Hi brty,

Quite right, I checked it the other day as the DJIA was at all time high.
And I was surprised!

 

[Struzball]

NYT,

The all ords is clearly not at all time highs, your chart does not go back far enough, please do more research before stating such things.

Nobody said anything about all time highs. Short term, higher highs, higher lows, bullish.

 

[Boggo]

Nobody said anything about all time highs. Short term, higher highs, higher lows, bullish.

Huh ?

From nysefloortrader above

 

[Struzball]

Huh ?

From nysefloortrader above

Oh ok, I wasn't looking at the picture

 

[Ann]

Nice retrace testing the long term support/resistance line of 5027 on Thursday.

 

[tech/a]

Yes Kenna's
Thought Id up date.
Pretty colours

Click To Enlarge

View attachment 50600!

A few months early but feel its looking ominous
See how the test of the recent high goes if it goes at all.

 

[pavilion103]

Does look ominous.

I'm wondering if there will be much of a test or not.

A break below around 4800-4850 could be brutal.

 

[Logique]

Thanks Tech. My analysis is more primitive, but I thought I'd put it up for interest sake.

 

[Country Lad]

Being a simple country lad, I avoid all that u-beaut technical stuff and simply say that if this is a double top, we could be for an interesting ride with our shorts.

Cheers
Country Lad

 

[Ann]

If the XAO continues its correction, will the rising support from June 2012 be strong enough to bounce the retrace?

 

[Sean K]

If the XAO continues its correction, will the rising support from June 2012 be strong enough to bounce the retrace?

I think that support line is tenuous by itself Ann, but probably is in line with the other horizontal support.

As has been indicated, breaking down through 4800-4850 looks ordinary.

 

[Sean K]

A few months early but feel its looking ominous
See how the test of the recent high goes if it goes at all.

View attachment 52458

Tech, the chart above this one indicates a three wave draw back to 4600, then up again. So, breaking down through those support lines leads us to that support line for an EW buy opportunity?

 

[Ann]

I think that support line is tenuous by itself Ann, but probably is in line with the other horizontal support.

As has been indicated, breaking down through 4800-4850 looks ordinary.

LOL yes Kennas ordinary would be one word to use if the XAO breaks through the 4800-4850! I am salivating already at the buying ops! However I think that rising support from 2012 may be the best we will do with the immiment retrace of the DOW!

 

[tech/a]

Classic technical setup.

Click to expand



These are little gems for position traders.

 

[Ves]

I hope you're right Tech/A. I have been waiting patiently for some of the "Weak" money to be flushed out of the index.

 

[notting]

There are a lot of technical things happening. However the US markets are not showing quite the weakness that ours are. We have this odd situation where the $ is being sold off not because of the resource slowdown. It's all to do with the rate decisions which are trying to make us as loose as everyone else! Where playing catch up there and all of a sudden the unhedged international money is panicking out of our market. The money could come flying back in just as fast with rates turn around! Oh and the banks which have been doing most of the lifting have gone ex dividend catalysing moves when technical get triggered due to that. I think we wanna just whatch a little longer.
Markets are not gummed up any more. There's no real threat to 'companies.' The sovereign thing is under control with printing. No inflation. It's not a recepie for a stampede!

 

[tinhat]

Classic technical setup.

Click to expand

View attachment 52514

These are little gems for position traders.

For those of us that are quite illiterate about technical analysis can you please take a little time to write a sentence or two of narrative to explain what you are showing with the chart? I would really appreciate it. There are those of us who are quite ignorant that could benefit if you just explained a bit what you are showing us. It might seem obvious to you but it is not to me.

1. what is the signal you are detecting?
2. What is it about the bars or pattern and/or volume that is giving you the signal? Is there something about today's spread? That there was a tail that dragged

I checked the market a few times today. I've got a whole swag of stocks that are so close to stop loss I could be out of a lot of stocks in the next few days. I've already hit stop loss triggers on a few. The market fell below 4900 today but closed above 4900. I'm keeping my eye on the XAO closing above 4900 and not dipping below 4880 during the day.

Cheers.