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XAO Technical Analysis

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Re: XAO Analysis

Nice pattern Kennas but a strong resistance line could be drawn parallel at 6200.

I would like to see it continue to the moon too Greg but what we want will be different to what pans out IMHO
 
Re: XAO Analysis

explod said:
Nice pattern Kennas but a strong resistance line could be drawn parallel at 6200.
Click to expand...
Agreed, this becomes very important now. I thought it was on the last up leg, and since it failed, my $$ is on the bears side. Holding long term stocks but going to hedge.
 
Re: XAO Analysis

Looks like the 27th August was a 45 deg counter out from the top.
I am setting up for the possibility of a 3 - 4 day cntr trend into 3rd Sept which expires a medium term cycle. Will have to wait and see what unfolds.

18th Sept 2007 -/+3 is 20 years out from 87 top . including leap years we have a window between 18th - 23rd Sept, 20 year cycle might or might not be significant but it is handy to know.

Regards Gazelle
 
Re: XAO Analysis

Whats the chance of a short squeeze here. Seems everyone is looking at some sort of decline from the highs put in a couple of days ago. We have a very High put/call ratio record Futures out and many waiting for a signal to get short. I agree the markets all look bad but I know what happens when to many are leaning the same way.
 
Re: XAO Analysis

ok guys, now, where do we go from here?
XAO bounce strongly. back to 6101 area. that's 1% bounce from today sell off. does this mean 6100 will be a good support point from here on or still going down to 5978 area as before?
any chartists expert opinion?
 
Re: XAO Analysis

trembling Hand said:
Whats the chance of a short squeeze here. Seems everyone is looking at some sort of decline from the highs put in a couple of days ago. We have a very High put/call ratio record Futures out and many waiting for a signal to get short. I agree the markets all look bad but I know what happens when to many are leaning the same way.
Click to expand...

High to answer my own question :eek: . It happened yesterday all day to the intraday players and we have a good chance of it knocking the Bears around for a week or two. Monday is a holiday in the States and that has historically been a positive time. this sucker could run for a week.


It's Snake Pliskin said:
Nice work trembling man.
Click to expand...

Thanks.
 
Re: XAO Analysis

powerkoala said:
ok guys, now, where do we go from here?
XAO bounce strongly. back to 6101 area. that's 1% bounce from today sell off. does this mean 6100 will be a good support point from here on or still going down to 5978 area as before?
any chartists expert opinion?
Click to expand...
If it breaks above 6200, chart says 6700 to me - extension of tenuous inverse H&S breakout.

That'll come back and bite me....ouch ;)
 
Re: XAO Analysis

Kennas,

You need to be more of a politician:

Prices will advance to 6700, unless they don't in which case they'll decline to 5800, or hover somewhere in between.

Now let anyone prove you wrong... :D

GP
 
Re: XAO Analysis

GreatPig said:
Kennas,

You need to be more of a politician:

Prices will advance to 6700, unless they don't in which case they'll decline to 5800, or hover somewhere in between.

Now let anyone prove you wrong... :D

GP
Click to expand...

lol :D
of course...
it can be anytime between 2007 to 2010 as well.
 
Re: XAO Analysis

After a very boring day there seems to be a rally on the XAO at the moment. Any ideas why?
 
Re: XAO Analysis

ok somehow XAO is climbing back to 6197.7 high today, after we are trading in blind for almost 3 hours.
still climb to 6198.2.
is it going to break 6200 today?
kind of weird, seeing DOW and SP500 in negatif area yesterday.
is is because of nikkei up strongly due to job report?
any opinion guys?
 
Re: XAO Analysis

Moses according to ABC news there was a problem at S+P who supply the market date so at about 12"30 there was no info available-not sure if this explains why things are up though,thought there might be caution going into the weekend wit the Dow down overnight
 
Re: XAO Analysis

powerkoala said:
ok somehow XAO is climbing back to 6197.7 high today, after we are trading in blind for almost 3 hours.
still climb to 6198.2.
is it going to break 6200 today?
kind of weird, seeing DOW and SP500 in negatif area yesterday.
is is because of nikkei up strongly due to job report?
any opinion guys?
Click to expand...

we're consolidating near the highs of this bull-flag so there is a chance of a break upwards. perhaps the market thinks Ben will say nice things tonight so people want to get out of shorts
 
Re: XAO Analysis

moses said:
After a very boring day there seems to be a rally on the XAO at the moment. Any ideas why?
Click to expand...

yeah, i almost fall asleep then just realize that XAO is way up high.
make me thinking why ?
FED bernanke is going to give speech.
will this signal the rate cut already ?
or this just the beginning of another drop (if no cut?)
 
Re: XAO Analysis

moses said:
After a very boring day there seems to be a rally on the XAO at the moment. Any ideas why?
Click to expand...

Come on Guys its a classic short squeeze all over the place. Hong Kong, Japan, The Yen, our SPI. to many short no sellers left.
 
Re: XAO Analysis

Bounced of 6192 briefly (R1) but still early I guess.

Which should serve as good support... yes

SevenFX
 
Re: XAO Analysis

Bush to Outline Subprime Mortgage Initiative CNBC.com

President George W. Bush will outline reforms on Friday intended to help homeowners with subprime mortgages avoid default, a senior U.S. administration official said on Thursday.

"He will also discuss reform efforts to prevent these kinds of problems from arising in the future," the official told Reuters on condition of anonymity.

Financial markets around the world have been in turmoil in recent weeks as defaults have risen on so-called subprime mortgages to less creditworthy borrowers. The Federal Reserve has taken steps to increase liquidity in markets and faces calls for interest-rate cuts to head off a broader credit squeeze that could drag economic growth down.

Bush in a statement scheduled for 11:10 a.m. in the White House Rose Garden will discuss the need for Congress to pass Federal Housing Administration reform legislation aimed at giving the agency the flexibility to help subprime mortgage borrowers, the official said.

The risk of a credit squeeze stemming from rising defaults on subprime mortgages has fueled worry that consumers will trim spending at a rate that could tip the economy into recession.

An administration official told Reuters that Bush "will discuss his willingness to work with Congress in a bipartisan way to reform the tax code to help troubled borrowers rework their loans."

Stock prices fell on Thursday on concern that credit market upheaval was spreading, with the Dow Jones Industrial Average down 50.56 points to close at 13,238.73.

Bush is also expected to direct Treasury Secretary Henry Paulson and Housing Secretary Alphonso Jackson to work together on an initiative to help troubled mortgage holders obtain services and products needed to prevent default, the official said.

He will discuss the need for rigorous enforcement of predatory lending laws and strengthening lending practices, the official said.
 
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