Chart Watch 2009-03-04

XAO - All Ordinaries

The first decline in Australia's GDP for eight years was reported today with a fall 0.5 per cent in the December quarter.  The All Ordinaries followed to close at a five and a half year low to 3,125.90 or 1.43%.

Fears of recession took hold of traders with the next 6 months looking a lot gloomy, and all sectors took a hit. 

The world markets are anticipating another Chinese stimulus package to be announced that could help limit the length and depth of the recession in the

industrialized world.

LST – Lionsel
LST came up on my TAZ scan yesterday and today a confirmation candle formed.  Volume is too light for me to take a position, and like all bullish trades, against the market timing.

1. Pulled back to Traders Action Zone

2. Respected support and 50% Fib
3. ADX above 25 indicating start of a trend

4. First pullback

Quick Trends

Symbol	Short Term (10MA)	Medium Term (50MA)	Long Term (200EMA)
XAO	Down	Neutral	Down
XDJ	Down	Down	Down
XEJ	Down	Neutral	Down
XFJ	Down	Down	Down
XHJ	Down	Up	Neutral
XIJ	Down	Up	Down
XMJ	Down	Neutral	Down
XTJ	Down	Down	Down
XUJ	Down	Down	Down

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XJO Short Term Resistance

Short term resistance at 38.2 Fib level. Breaking this, looking at next level which is coincides with the 50% Fib and low on the 28/10.

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Chart Watch 2008-05-29

XJO - S&P ASX 200



As displayed in my last post , the XJO was sitting right on a current trend line. This line has since been breached. XJO now lookig for support at the 100MA, and the 32.5% Fibonacci Retracement.

On the 5/4/2005 Colin Twiggs indicated potential resistance at the 5900-6000 level which looks to be playing out.

"The All Ordinaries broke above short-term resistance at 5450 on heavy volume and is headed for a test of resistance at 5900/6000. Resistance is expected to hold because of the bear market, but continued advances on strong volume would increase the chance of a breakout. "

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