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XAO Technical Analysis

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Any ideas where the XAO is headed? This thread has been pretty quiet, for a while.

tech/a - is there any update on the EW count? It looks the weekly chart may have been the correct count: heading back up towards 5500.
 
zzaaxxss3401 said:
Any ideas where the XAO is headed? This thread has been pretty quiet, for a while.

tech/a - is there any update on the EW count? It looks the weekly chart may have been the correct count: heading back up towards 5500.
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Index might come off a bit in the near term if this divergence kicks into gear tomorrow (looking like it will given how futures and overseas markets are performing today/tonight).
 

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Some decent sized falls ahead :2twocents. While the index hasn't show it yet, many stocks are breaking to the downside. No buys other than gold stocks, and they might be at the end of their run soon.
 
Gringotts Bank said:
Some decent sized falls ahead :2twocents. While the index hasn't show it yet, many stocks are breaking to the downside. No buys other than gold stocks, and they might be at the end of their run soon.
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What are the market internals saying?
 
Gringotts Bank said:
Someone else say something.

I'm in one of those moods where I know whatever I trade is going to go against me.
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There's nothing to say! The XAO overall doesn't look to have a strong inclination one way or the other.

It's reporting season so unless you are trading the index, individual stocks pre- and post- reporting will offer much better trading opportunities imo.
 
The chart below is from a Bell Potter Investor Report discussing the global sharemarket. It shows the various sharemarkets' performance since the US 10-year bond yield low of 1.6% on 2 May.

I am sure they won't object to me posting it here.

Cheers
Country Lad

sharemarkets performance 22 Aug 13.gif
 
Trembling Hand said:
Country Lad when was that taken to?
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End of July, I received the report, "Global Sharemarket Perspective" on 9 August. Since then the All Ords is up 1% and the S&P 500 down 2% so the comparison of the two would not have changed that much to now.

Cheers
Country Lad
 
The XAO closed at 5104.1 on 2nd May, and at 5035.7 on 31st July. That's a drop of only 1.34%.

Over the same time period, the Australian dollar dropped around 12.3%. My guess is that graph is showing the decline of the various markets measured in USD. In which case, it is reflecting the change in the exchange rate more than anything else.
 
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