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XAO Technical Analysis

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I can't post a chart right now but that was absolutely absurd into the close for the SPI futures.

They swept it down like 50 points right on the cash close lololol.

Does option expiry have anything to do with this?

My guess is a whole bunch of fund managers selling for the quarter? Huge MOC selling? Could be a serious bearish signal?

All just speculation of course
 
kid hustlr said:
I can't post a chart right now but that was absolutely absurd into the close for the SPI futures.

They swept it down like 50 points right on the cash close lololol.

Does option expiry have anything to do with this?

My guess is a whole bunch of fund managers selling for the quarter? Huge MOC selling? Could be a serious bearish signal?

All just speculation of course
Click to expand...

SPI not closed just yet our kid.
End of month 'Sell Off' :)
5000 contracts. Phew!
Did you get any of it ?
 
kid hustlr said:
I can't post a chart right now but that was absolutely absurd into the close for the SPI futures.

They swept it down like 50 points right on the cash close lololol.

Does option expiry have anything to do with this?

My guess is a whole bunch of fund managers selling for the quarter? Huge MOC selling? Could be a serious bearish signal?

All just speculation of course
Click to expand...

Option expiry was yesterday. Today it's MSCI rebalance. But I am not sure either one of them had anything to do with it.

They (whoever they are) managed to push CBA down 40c between last trade and close, and BHP down 20c.

Crazy way to finish the month.
 
kid hustlr said:
I can't post a chart right now but that was absolutely absurd into the close for the SPI futures.

They swept it down like 50 points right on the cash close lololol.

Does option expiry have anything to do with this?

My guess is a whole bunch of fund managers selling for the quarter? Huge MOC selling? Could be a serious bearish signal?

All just speculation of course
Click to expand...

Sounds like a trading system in that Kid...End of Month...
 
Bronte said:
Hi CanOz, In the original 'Trading the SPI' thread we covered this topic. (approx. 8 years ago now)
Click to expand...

Can you link to the post? I found the thread but it's super long, if you can even guide me to which part of the thread (roughly middle/end/beginning) ill find it.

As I said, I assume it has something to do with month end? MOC orders to sell, gives a massive imbalance to the sell side in the equity market and then the arb bots trigger the futures down?
 
Not exactly sure, early we think kid.
The thread was actually started on 13th July 2005 at 07.31 AM
 
Bronte said:
Not exactly sure, early we think kid.
The thread was actually started on 13th July 2005 at 07.31 AM
Click to expand...

'Trading the SPI' Original (ASF) :)
Linked to my signature below.....

Actually started life on: 04-01-2004 02:06 PM on another forum.
 
It looks like the support line isn't holding and we are still trending down. Off shore investors taking their money and going home, the US economy supposed to be improving and the threat of Quantative Easing being scaled down. The chart doesn't go back far enough to show the next support level. I would be interested to hear opinions as to how long this correction will last and how low it may go.

xao 2013-06-03.png
 
nulla nulla said:
It looks like the support line isn't holding and we are still trending down. Off shore investors taking their money and going home, the US economy supposed to be improving and the threat of Quantative Easing being scaled down. The chart doesn't go back far enough to show the next support level. I would be interested to hear opinions as to how long this correction will last and how low it may go.

View attachment 52580
Click to expand...


Hi Nulla Nulla, you can extend the time period on the upper bar of your chart where it says 'display periods'.

Anyway it appears you were suggesting around the 4600 level, I think you got it right. Pulling right back to 2005 I can see a potential support/resistance line running to the 4600 level. I have added a short term rising support but as I said on my chart I doubt it will offer a whole lot of support.

xao3june.png
 
kid hustlr said:
Yep fair point, wasn't so much the players involved so much as me speculating on what had happened.
Click to expand...

If your pay is marked to market at the end of the month and you are well in profit why not smash it a few extra basis points 5 min before said "MTM". :p:
 
Ann said:
Hi Nulla Nulla, you can extend the time period on the upper bar of your chart where it says 'display periods'.

Anyway it appears you were suggesting around the 4600 level, I think you got it right. Pulling right back to 2005 I can see a potential support/resistance line running to the 4600 level. I have added a short term rising support but as I said on my chart I doubt it will offer a whole lot of support.

View attachment 52583
Click to expand...


Thanks Ann. I guess I was being a bit lazy using a six month display period instead of a three year one. I mainly wanted to get some feed back as to where this correction may be going. :)
 
Colin Twigg of Inredible Charts offers this balanced perspective on our current market position:

The ASX 200 also encountered buying pressure, with a hammer candlestick at the primary support level of 4900. Recovery above 5000 would indicate the correction is over, but breach remains as likely and would confirm the primary down-trend suggested by bearish divergence on 21-day Twiggs Money Flow.


2013-06-04-xjod.png
 
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