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XAO Technical Analysis

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Retest worked well GB,

If we could eventually get back to 5243 i'd be looking for sellers there for another opportunity to short....that's a fair ask for today though. May take a day or two....
 

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CanOz said:
Retest worked well GB,

If we could eventually get back to 5243 i'd be looking for sellers there for another opportunity to short....that's a fair ask for today though. May take a day or two....
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Yep thanks. The low vibe around the election appears to be putting a halt on upwards movements, so it's either flat or down or small rebounds getting sold into. Hope to close out on election day around 5150.
 
Gringotts Bank said:
Yep thanks. The low vibe around the election appears to be putting a halt on upwards movements, so it's either flat or down or small rebounds getting sold into. Hope to close out on election day around 5150.
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Fed day, NFP and the election is certainly providing lots of volatility!
 
Anyone game for longs now?
 

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Might get a push up now, or tomorrow. Weekly time frames heavily oversold, so whenever it happens there should be a few green days in it.
 
Key levels to overcome on the SPI today are 5188 and 5200. The difficulty here is that there is a tremendous amount of resistance in that zone. Without some kind of catalyst to spark short covering in the volumes needed to push through these levels, i think we might see these levels fail....
 

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This Us election is a bit of a spanner in works but with a rolling 5 day range of 200 ish i think the bounce is close , generally we see a large exhaustive move at end of declines which we havent seen yet ( Bump and Run style ). Lows are fast and obvious . I generally like Nov Opex swing lows but the decline is a tad earlier than normal this year due to the Circus . Stack of Divs next week or so which usually feeds early Nov XJO weakness . Maybe one more flush and then short burner time , suppose a lot hangs on who wins the circus ... interesting times



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I just read on Twitter that the Vix put in like 8 straight days higher, unprecedented since inception 27 years ago!
 

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Toyota Lexcen said:
i think the records will get broken easily (VIX and SPX nine days of losses),

the world just wants headlines and it will drive things down,
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Any positive polls for Hilary are likily to drive the market higher.....for Trump....lower. Watch the Mexican Peso for a better election read...its the current barometer for Trump...;)
 
Toyota Lexcen said:
i think the records will get broken easily (VIX and SPX nine days of losses),

the world just wants headlines and it will drive things down,
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I am definitely not as certain as you , NFP is notorious for burning the crowded trade and thats heavily short atm . Eyes wide open ....


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Quant said:
Only second time this century we have seen 8 consec red SPX days . Have to go back to
1980 to find 9 .


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Lots of negative stats off Wall Street last night...S&P worst losing streak for 8 years etc.

U.S indices have only declined marginally recently though...XJO on the other hand underperformed as usual.

XJO chart a mess. Small Ords. providing better patterns and some interesting time cycles.
 

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CanOz said:
Any positive polls for Hilary are likily to drive the market higher.....for Trump....lower. Watch the Mexican Peso for a better election read...its the current barometer for Trump...;)
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Would you have a peso chart please?

I agree with Porper re small Ords. I think technology will be the World's saviour in many ways. Expect it to be bigger than even Turnbull imagined. Of course only 1 in 1000 might make it, but yeh I'm liking technology a lot.
 
Brexit style recovery likely. Everything else matches so far.

Later on, the Abyss. Trump better have a bloody good speech handy if he wins. Frightening.

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