XAO Technical Analysis

[Gringotts Bank]

Big consolidation pattern on the 60m SPI chart

Let's have a look at your 60m chart. Can you post it?

The intraday has just flattened into nothingness. Hard to trade.

 

[CanOz]

60 m SPI

 

[skc]

Let's have a look at your 60m chart. Can you post it?

The intraday has just flattened into nothingness. Hard to trade.

Yes today's range is pretty tight but your chart isnt' the best way to show that.

It looks like you are using XAO chart that includes the ASX staggared open... With large moves overseas last night, of course there were be large ranges in the first 10 minutes which makes the rest of the day's flatness looks exaggerated.

Yes.. I just said exaggerated flatness.

 

[Gringotts Bank]

Yes today's range is pretty tight but your chart isnt' the best way to show that.

It looks like you are using XAO chart that includes the ASX staggared open... With large moves overseas last night, of course there were be large ranges in the first 10 minutes which makes the rest of the day's flatness looks exaggerated.

Yes.. I just said exaggerated flatness.

It's Heiken Ashi, but that's not a big issue. How else would you show XAO intraday? All XAO charts I've seen include staggered opens.

 

[skc]

It's Heiken Ashi, but that's not a big issue. How else would you show XAO intraday? All XAO charts I've seen include staggered opens.

Just take out the bars showing the first 10 minutes.

 

[CanOz]

Yes.. I just said exaggerated flatness.

lol....

 

[Trembling Hand]

It's Heiken Ashi, but that's not a big issue. How else would you show XAO intraday? All XAO charts I've seen include staggered opens.

use the SPI. XAO....... Unicorn instrument.

 

[Gringotts Bank]

Today's a slightly different picture. Lots of shorts appearing on my scans but the tone still neutral.

Breaking below 5030 would be a signal to sell everything. I'm holding nothing at the moment.

My 6 cents.

 

[Gringotts Bank]

Critical point in both the intraday and daily XAO.

Intraday:

 

[Gringotts Bank]

+10 points on cue.

If it closes below 5135, I think that's a good short opportunity. On the daily, the low has touched the long term support trendline.

 

[Gringotts Bank]

Closing candle pops above flag.

 

[skc]

Closing candle pops above flag.

Iress plots this differently.

The last "candle" (actually yours a bar chart) is simply a "dot" where open = high = low = last.



Anyhow, big resistance now at the current 5200 zone. I wonder if it's breakable in the face of FOMC...

 

[Gringotts Bank]

Did it again... but bigger.

(NB: Heiken Ashi chart)

 

[13ugs13unny]

Iress plots this differently.

Anyhow, big resistance now at the current 5200 zone. I wonder if it's breakable in the face of FOMC...

seen this many times before since the 1980's...I visualise the resistance line is the door and the market forces keep knocking on the door.

I like it when it knocks a few times before the market invites it in.... its a good sign, how polite !

 

[Gringotts Bank]

weekly scale, long term chart.

 

[Gringotts Bank]

5231 key level today. Closing below that would be adding more shorts.

Closing at 5231 or above, might get a bounce back to the line at 5264.

 

[13ugs13unny]

Re: XAO Analysis

But it'll be really nice if this rally blends into the seasonal Santa Claus rally.

Well if that happens most investors like me may be caught unaware.

Then if the EU fires, along with Asia, we have a runaway market. Looks like a confluence of equities prices pressure may cause a prefect storm, e.g like SMSF, dividends, cheap money, stable oil supplies from US now close to being a net exporter taking pressure of oil prices, runaway US gdp.

If that's the case could be 6300-6400 by May 2014? Up to ~7,800 by 2015?

No doubt there will be panic moments to buy in along the way. IMHO. Seems the internet delivers so much news that after the initial anxiety after a 1/2 a day its behind us, shares go up again.

Depends what news gains traction apart from the usual banter, like unemployment figures, debt ceilings, and some other policy announcements along the share market journey day after day.

 

[tech/a]

Let me be the first to point out that its ALL getting pretty toppy!

While the XJO isn't the weakest the USA and FTSE look extended.
A correction there will see us correct.

 

[CanOz]

Two charts, first one is the XAO and the second is the SPI daily....

Flag? We'll see but 5365 needs to hold to keep a nice pullback off the cards...

Maybe a PB before a Santa Claus rally?

 

[Whiskers]

Let me be the first to point out that its ALL getting pretty toppy!

While the XJO isn't the weakest the USA and FTSE look extended.
A correction there will see us correct.

There is certainly no doubt it looks toppy as well as divergence in the markets, the XAO lagging quite a bit behind the Dow, similar to the early 2000's.

But, is it similar?

If any correlation can be drawn from the state of the US budget to their US stock market and flow on to the XAO, then expectations could keep 'artificially' pushing the US up for some time yet and give us a bit of support along the way. In the longer term the 2008 crash is getting dwarfed, while 87 is hardly a blip in the rear view mirror on the US markets.

I was a bit sceptical when some EW'ers were talking about a recovery to somewhere about here before the final leg crash to oblivion. My consideration was fiscal and monetary authorities would learn quickly how to stabalise the markets. It would appear they have done that very well. Still not convinced either way yet, though.

Is that major correction still on those programed counts or anyone's manual count?

Or is there a systemic shift in world markets, such that XAO should be related more to India and China than the US?

Excuse the charts... it's just that I've been doing a bit of research looking for any correlation between financial charts and the XAO.