| Author |
Message |
     tony_m
Member
Username: tony_m
Post Number: 418
Registered: 01-2003Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 09:55 am: | 
|
Early days yet but a weekly CCI hook could be forming, often a precursor to a trend continuation. You can see this from the previous correction in March. Tony_M
|
eyes
Member
Username: eyes
Post Number: 14
Registered: 06-2005Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 05:40 am: |
|
I understand what you saying guys and this is not a competition. But I think it is important to have a look at XAO weekly chart in order to understand what we are in for. The weekly chart shows that XAO has to find support at 4250. In that case uptrend should continue. I believe that a close below 4180 will give us all different story.
Have a great day in the market,
eyes
"The only way you can fail is to quit"
|
may
Member
Username: may
Post Number: 5
Registered: 04-2005Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 09:14 am: |
|
Good Morning Hilarius
Looking at the weekly XAO chart (with a longer term investment in mind) I'd be happy to go long on a close above the previous week's high of 4425 and would view a weekly close above last week's high (4407) as quite promising. If, however, it closes below previous week low 4277 or 30 week mov.av. (yellow line) it would imho signal considerably higher potential of further downside action.
This is certainly not the time to be taking any unnecessary risks. Jumping in early in such a volatile, uncertain market is extremely dangerous and potentially financially very damaging. Now is the time to exercise the STRICTEST DISCIPLINE in not wavering from your personal trading rules.
May
ps. I hope everyone has a very happy and successful(?) Melbourne Cup Day. May the best horse win. 
|
ken
Member
Username: ken
Post Number: 310
Registered: 04-2003Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 01:51 pm: |
|
XAO and XJO have bounced down off overhead resistance at 4397 and 4440 respectively three times today - anyone for another fall in the afternoon today and later a test of previous lows?
Or will it get through on the 4th attempt?
Ken
Trade with the trend, not against it.
The trend is the direction of the 22ema line (Elder)
|
morton
Member
Username: morton
Post Number: 44
Registered: 05-2005Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 01:57 pm: |
|
"eyes" I like your call, good to see some log charts.
By the way, who still thinks the US market has no impact on ours???
they go up, we go up, they go down, we go down....co-incidence?
It's poor form to see our market copy-cats the US, you'd think we'd be smart enough to look after our markets rather than cheat of the US and od what they do.
|
tony_m
Member
Username: tony_m
Post Number: 419
Registered: 01-2003Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 02:00 pm: |
|
Most up days recently have been characterised by afternoon selling into the gains suggesting that there are plenty of sellers still around who are waiting to lighten or bail from positions.
I think when and if this peters out it might suggest that sentiment is turning so it will be interesting to see what happens as the afternoon progress. So far the selling at the highs doesn't seem as aggressive as it has been recently.
Tony_M
|
msparks
Member
Username: msparks
Post Number: 248
Registered: 10-2004Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 05:50 pm: |
|
Like a feeding frenzy at the zoo today but the volume was down.
|
chriswillz
Member
Username: chriswillz
Post Number: 106
Registered: 04-2005Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 06:25 pm: |
|
Tony M,
Well the trend was definitely continued to the close. Finishing on the highest point of the day up 70odd points. With futures up as high as 80points.
Ideally I'd like for a SPX500 close above 1200 and DIJA close above 10450 tonight.
This week could well decide the trend towards xmas. Fed meeting Tues and job reps on Friday.
Chris
|
hershy
Member
Username: hershy
Post Number: 975
Registered: 10-2002Rating: N/A
Votes: 0
|
| | Monday, October 31, 2005 - 07:41 pm: |
|
I am a bit late with a reply Eyes ol' buddy.
My line in the sand is 4256. This is one point, I say again one point above the Fibonaci 50% line. If that goes, you can quote General Charles de Gaule who said "Apres mois le deluge". This translates as "after me, the floods".
I don't want to be long in the market if that happens.
I've yet to start getting into short trades but I think I might have to if that happens.
The road to success is usually under construction.
http://members.optusnet.com.au/~hershy/
|
thommo78
Member
Username: thommo78
Post Number: 87
Registered: 05-2005Rating: N/A
Votes: 0
|
| | Tuesday, November 01, 2005 - 09:15 am: |
|
Dow ran into some serious resistance at lower level of rising wedge (also s/t horizontal reistance, 40dma, 100dma) .. not the positive start to the week we were looking for..?
Dec 05 $10 DJIA:
|
kate
Member
Username: kate
Post Number: 192
Registered: 04-2005Rating: N/A
Votes: 0
|
| | Tuesday, November 01, 2005 - 01:17 pm: |
|
Looks like the same lack of volume again today, I wonder if we are just going to go sideways for a while and then take a more gradual move up.
|
deanrosario
Member
Username: deanrosario
Post Number: 1001
Registered: 11-2002Rating: N/A
Votes: 0
|
| | Tuesday, November 01, 2005 - 01:31 pm: |
|
Don't forget it's Melbourne Cup today so volume should be thinner than normal.
DJIA futures trading 30 points below this morning's close and SPI looking a bit sickly so could be some profit taking this afternoon.
Trading volume a bit too thin for my liking - I'll go study the form guide instead!
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." George Soros
|
morton
Member
Username: morton
Post Number: 45
Registered: 05-2005Rating: N/A
Votes: 0
|
| | Tuesday, November 01, 2005 - 02:07 pm: |
|
I got alot of good buy signals yesterday. But all of them on low volume. trend had broken, reversals, but no volume.
It's too quiet....
|
kate
Member
Username: kate
Post Number: 193
Registered: 04-2005Rating: N/A
Votes: 0
|
| | Tuesday, November 01, 2005 - 02:07 pm: |
|
Think I'll head back into the garden, not much of a horse racing fan. I'm 95% cashed up at the moment with only OXR to my name, think it will stay like that for a while by the looks of things!
|
ken
Member
Username: ken
Post Number: 311
Registered: 04-2003Rating: N/A
Votes: 0
|
| | Tuesday, November 01, 2005 - 02:44 pm: |
| |
Auto-Fit Trendlines