XAO Technical Analysis

[Gringotts Bank]

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.

xxx

 

[Gringotts Bank]

A good day to sell. Trump is only interested in looking after the US, and I think the Aus market will under-perform today. SPI up strongly but I'm not feeling it. Ords should be +138 before backing off.

 

[gartley]

A good day to sell. Trump is only interested in looking after the US, and I think the Aus market will under-perform today. SPI up strongly but I'm not feeling it. Ords should be +138 before backing off.

We have a date with at least the 5800 handle first and new highs in the US indices.
Thereafter IMO it's a different ball game

 

[Gringotts Bank]

We have a date with at least the 5800 handle first and new highs in the US indices.
Thereafter IMO it's a different ball game

Yeh I'm back long. That close is too strong, so 5440 new target for me.

 

[Gringotts Bank]

Yeh I'm back long. That close is too strong, so 5440 new target for me.

close.

Now not sure. If Trump's media stays cool, then continue to around 5500.

 

[Gringotts Bank]

Yeh I'm back long. That close is too strong, so 5440 new target for me.

5446 at close, 6 above the line. Bullish, but may have a breather Monday.

 

[Logique]

I'm relaxed and comfortable, for now. Candlestick theory has something to say about long lower shadows. The US Presidential Election caused unexpected volatility around 8 November.

 

[gartley]

I'm relaxed and comfortable, for now. Candlestick theory has something to say about long lower shadows. The US Presidential Election caused unexpected volatility around 8 November.
View attachment 68772

I am agreed. Looking at the SP500 my own cycles model suggests a move 2500+ before this long term bull market move finally becomes at risk. If history is any guide over the last 5 years, this probably won't translate into an equivalent % move in the All Ordinaries as our markets have been sluggish. Nevertheless I am expecting some positive moves in the months ahead, but the volatility may remain between now and xmas.

 

[Porper]

I am agreed. Looking at the SP500 my own cycles model suggests a move 2500+ before this long term bull market move finally becomes at risk. If history is any guide over the last 5 years, this probably won't translate into an equivalent % move in the All Ordinaries as our markets have been sluggish. Nevertheless I am expecting some positive moves in the months ahead, but the volatility may remain between now and xmas.

There must be some confluence up around 2500 as the larger degree pattern (Wave-5) could terminate up at that level.

There is a slim chance of heading back down to 1800 first but low probability.

As for time...I don't have any concrete time cycles in play using Miner's methods as yet.

 

[Gringotts Bank]

Expecting XAO to move up somewhere between 5540-5560 (green rectangle).

 

[gartley]

Will probably stall for some weeks at those levels but ultimately have my sights set much higher on the ASX200 like 5850.

http://invst.ly/2q-ec

 

[Gringotts Bank]

Expecting XAO to move up somewhere between 5540-5560 (green rectangle).

View attachment 68796

Sold my long because it was smack bang in the middle of the green target zone at close. Looking for a flag to form, and get back in long some time over the next 3-5 days.

 

[Gringotts Bank]

Critical point. Doesn't look like pushing back up just yet.

 

[Wysiwyg]

Sold my long because it was smack bang in the middle of the green target zone at close. Looking for a flag to form, and get back in long some time over the next 3-5 days.

Nice green zone tag there GB. Don't know about a 3 to 5 day flag formation though. Be a bit thin on the cotton.

 

[Gringotts Bank]

Nice green zone tag there GB. Don't know about a 3 to 5 day flag formation though. Be a bit thin on the cotton.

Thanks. I wasn't expecting it, but the flag breakout happened.

Close up of above chart shows it respected two of my lines. The horiz one is a Fib extension, not a support line.

5592 (yellow) should be achievable tomorrow or Mon on the back of this.

 

[Quant]

Critical point. Doesn't look like pushing back up just yet.

View attachment 68971

zoom out a bit further and you will see the higher time frame dynamic resistance that matters most





Above is XJO here is XAO , much of a muchness , sorry i used XJO , i actually trade it so its habit

 

[Gringotts Bank]

Getting ready to go short.

Not much in the way of a big move down.

 

[Gringotts Bank]

Stocks aren't reverting too well, and there's a lot of stocks undergoing major and prolonged sell offs.

 

[Porper]

Stocks aren't reverting too well, and there's a lot of stocks undergoing major and prolonged sell offs.

Many of the mid-cap stocks that have been performing really well for many months are retracing hard. Impulsive price action lower suggests a larger correction is taking place.

 

[Gringotts Bank]

Many of the mid-cap stocks that have been performing really well for many months are retracing hard. Impulsive price action lower suggests a larger correction is taking place.

Thanks for confirming.