Chart Watch 2008-12-08

XJO - ASX 200



After a good lead from the US (DOW, S&P 500 and NASDAQ all up over 3%) shaking off some negative job data, our market has followed through with a 4% gain, also shaking off the ANZ job ad numbers. XJO ended the day at 3631.60 (up 4.06%).

Some other of the negative news out today which the market seemed to ignore include;
BHP may require to cut iron ore production
RIO could cut thousands of jobs
Harvey Norman (HVN) warned some of its stores could close

Trends*
Long Term - Down
Intermediate - Down
Short Term - Up

*10MA, 30EMA and 200MA used to determine trends

Read more...

Chart Watch 2008-12-03

XJO - ASX 200



After a good lead from the US (DOW, S&P 500 and NASDAQ all up over 3%) ended the day flat, but not before riding the
days roller coaster. High of 3621 on open, low of 3499 just before lunch, back up to 3605 a couple hours before close
to finally finish at 3533.

Chart mainly un-changed with what looks like a new swing low after failing to breach the 50% retracement mark.

Stocks to watch on close


Trends*
Long Term - Down
Intermediate - Down
Short Term - Neutral

*10MA, 30EMA and 200MA used to determine trends

Read more...

Chart Watch 2008-11-30

XJO - ASX 200



XAO - ALL ORDINARIES



The XJO closed 3742, above the low of the 28/11 of 3724, but still below the 50% retracement of 3777. The story of the XAO with a close of 3672 shows a similar story but below the 28/11 low of 3693 and 3760 50% retracement.

The market will test this area, probably on Monday after a strong close of the week for the DOW and S&P 500 (NASDAQ flat). Respect of this level(s) will indicate the continuation of the down swing.

BHP - BHP Billiton



A great week for the bug Aussie, approaching the $31.00 mark with volume. Still in a short term, medium term and long term until proven otherwise.

Read more...

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.

Read more...

Chart Watch 2008-06-03

XJO - S&P ASX 200



XJo showing signs of weekness again with the current trend line being broken. Looking at 100MA for support now.

XJO - S&P ASX Financials



XFJ was a great short on the 22nd of May. 100 MA resisted the uptrend and also broke the current uptrend.

Read more...

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. "

"

Read more...

Chart Watch 2008-05-25

XJO - S&P ASX 200
XJO sitting right on its current trend line.



CMR - Compass Resources
Second pullback for CMR after breaking out. Optimal entry would have been the first pullback after breaking the 100MA.



AGO - Atlass Iron
After a sharp stron volume rally, prices have pull back on weaker volume. Looks to be forming a bullish pennant.

Read more...