Knobby22
Mmmmmm 2nd breakfast
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The Elliot Wave theorist on this site had it bottoming at 2400, so that lines up with yours Boggo.
XAO Technical Analysis
- Thread starter Sean K
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Cam019
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XAO looking super interesting here. Looks like a bear flag forming. 38.2 retracement potentially coming into play with some confluence around the 5480 - 5620 support area. First short target could be the 127.2 extension around 3650.
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Because of significant external influences I am not putting much faith in any form of technical analysis at the moment.
Having said that I find that this is interesting for fun if nothing else.
A wave 4 primary retracement area is 38.2% to 50.0% of wave 3. Last week the XAO did retrace almost precisely to 38.2% of wave 3 but today it has progressed into the area between the two primaries.
The next theoretical area of resistance will be around 5500, let's see how it pans out from here.
(click to expand)
Having said that I find that this is interesting for fun if nothing else.
A wave 4 primary retracement area is 38.2% to 50.0% of wave 3. Last week the XAO did retrace almost precisely to 38.2% of wave 3 but today it has progressed into the area between the two primaries.
The next theoretical area of resistance will be around 5500, let's see how it pans out from here.
(click to expand)
Logique
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More in it near term. Volatility and index are daily trending in opposite directions, which is propitious.
No, not an April Fools Day posting
No, not an April Fools Day posting
Cam019
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Logique
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No shortage of opinion out there on what world financial indices are likely to do, much of it gloomy.
I feel comfortable about the XAO. It's in a 'sticky' zone between 5,000 - 5,500.
Candle theory is supportive of a base forming during 2020.
Referencing the Yearly XAO Prediction Thread, which whimsically of late is talking postcodes,
I expect someone from WA to win this year
I feel comfortable about the XAO. It's in a 'sticky' zone between 5,000 - 5,500.
Candle theory is supportive of a base forming during 2020.
Referencing the Yearly XAO Prediction Thread, which whimsically of late is talking postcodes,
I expect someone from WA to win this year
Logique
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It's only the US Nasdaq, but it doesn't seem to have received the memo. Just saying.
They're feeling the squeeze in FAAMG ville
They're feeling the squeeze in FAAMG ville
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Beautiful jump off from the 50 - this is going further up imo
Logique
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Whilst I remain a member. All the best to our most excellent ASF host Joe.
It's just the US Nasdaq, May 2020. Draw your own conclusions.
Regards, Logique
It's just the US Nasdaq, May 2020. Draw your own conclusions.
Regards, Logique
Garpal Gumnut
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Giday GG.
The All Ords (XAO) seem to be following behind the S&P 500 which seems to be in an area of decision at the moment.
Still a lot of potential external influences that could send both in either direction at short notice.
Personally, I am tending to think that we may encounter a correction to the current correction (hope that makes sense).
Two charts below, the S&P 500 is the one that we need to see break out of the current area of indecision, the XAO will follow.
(click to expand)
The All Ords (XAO) seem to be following behind the S&P 500 which seems to be in an area of decision at the moment.
Still a lot of potential external influences that could send both in either direction at short notice.
Personally, I am tending to think that we may encounter a correction to the current correction (hope that makes sense).
Two charts below, the S&P 500 is the one that we need to see break out of the current area of indecision, the XAO will follow.
(click to expand)
Garpal Gumnut
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Chart below is of PNV and i'm just using it as an example of what I watch for and would like to see happen in the two example above, particularly on the S&P 500.
Basically, into the the area of indecision, some hesitation and then turn upwards with conviction.
Insights such as kahuna1's post here is a worry for the future...
https://www.aussiestockforums.com/posts/1071280/
(PNV example - click to expand)
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IMO you and kahuna are spot on, eventually the U.S as reserve currency will be challenged, there has to be a constant that all currencies are measured against. The U.S IMO has abused its position and lost a lot of credibility post gfc.
My guess is it will be a computer algorithm, some think the gold standard will be returned, but with the computer age I thonk digital money and an algorithm will be the go.
Knobby22
Mmmmmm 2nd breakfast
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Closed flat, sounds bullish?
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This is my current take, I think the triangle/wedge/flag/whatever died in mid April.
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My 
worth is that where the S&P500 goes we follow.
At the moment it's range bound but something has to give soon.
(click to expand)
worth is that where the S&P500 goes we follow.At the moment it's range bound but something has to give soon.
(click to expand)