XAO Technical Analysis

[CanOz]

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....

 

[Gringotts Bank]

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....

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.

 

[CanOz]

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.

Fed day, NFP and the election is certainly providing lots of volatility!

 

[CanOz]

Anyone game for longs now?

 

[Gringotts Bank]

Anyone game for longs now?

I'm going to try and ride it out and hope the bounce isn't very big. Today's low = Sep low.

 

[Gringotts Bank]

Another perspective, with target 5189.

 

[Gringotts Bank]

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.

 

[CanOz]

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....

 

[Quant]

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

 

[CanOz]

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

 

[Quant]

I just read on Twitter that the Vix put in like 8 straight days higher, unprecedented!

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

 

[CanOz]

Should be an entertaining NFP release....

 

[Toyota Lexcen]

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,

 

[CanOz]

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,

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...

 

[Quant]

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,

I am definitely not as certain as you , NFP is notorious for burning the crowded trade and thats heavily short atm . Eyes wide open ....

 

[Porper]

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


View attachment 68705

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.

 

[Gringotts Bank]

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...

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.

 

[Gringotts Bank]

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.

 

[MrBurns]

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.

View attachment 68750

Give me some warning will you ?

 

[Gringotts Bank]

Give me some warning will you ?

Read the thread! All my calls have been spot on lately.