‘Kia ora’ from Auckland, New Zealand ... that's 'Gidday' in Aussie.
I mentioned last week that the All Ordinaries could turn between Friday November 19 and Monday November 22. It did turn down Friday after an all time high at 3902 and a lack lustre week leading up to that.
This week my bias is that the market to move down until Thursday November 25. I am still waiting for confirmation of the cycle high, once this happens be prepared for a substantial decline to meet cycle price predications below 3430. If a counter trend confirmation doesn’t happen, the market should push up to 3962 where it will find major resistance.
Have a great week ... cause I will!
Disclaimer
The training and eduction services provided by Trading Edge Pty Ltd (acn 053431842) involve the supply of factual information about securities and securities markets only. It should not be assumed that the methods, techniques or indicators presented will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. The training and education services do not involve any recommendations in relation to your personal financial circumstances or investment needs and does not provide any investment advice. Examples presented are for educational purposes only. Any stock, option, warrant, CFD, currency or future contract mentioned are not a recommendation to buy, sell or hold but merely a study of past performance.
Before making any investment decisions you should obtain advice from a licensed securities advisor and consider with or without the assistance of a securities adviser, whether the advice is appropriate in light of the particular investment needs, objectives and financial circumstances of the prospective investor. Trading Edge and its representatives and officers will not accept liability for any loss, damage or expense incurred or suffered by you if you rely on any information provided in making investment decisions. By attending any Trading Edge event or reading or viewing any Trading Edge material you are implicitly agreeing to the conditions set out above.
Monday, November 22, 2004
Sunday, November 14, 2004
Australian All Ordinaries Index (XAO) for week beginning November 15, 2004
We have a fantastic Advanced Trading Techniques works in Melbourne this weekend … we started on Thursday afternoon with a brief introduction for the Platinum Super Traders, and then worked through until Saturday afternoon with a great group of traders eager to learn the analysis methodologies.
Last week the All Ordinaries index made a two day counter trend down before continuing its rise into the stratosphere! A new all time high was made at 3877.1 on Friday, November 12.
I mentioned last week reversal dates November 5-8 and November 12. The market reversed November 8 … let’s see if it has a down day on Monday.
A point of interest/observation: From the March 13, 2003 low, the index is working on the weekly harmonic of 90 … look at the lows at 15 weeks, 30 weeks, 45 weeks, 60 weeks, 75 weeks … 90 weeks is in 3 weeks time!
Reversal date as mentioned last week - November 19-22.
I will be in New Zealand for a well deserved break for the next two weeks, but still hope to get a report written each week.
Disclaimer
The training and eduction services provided by Trading Edge Pty Ltd (acn 053431842) involve the supply of factual information about securities and securities markets only. It should not be assumed that the methods, techniques or indicators presented will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. The training and education services do not involve any recommendations in relation to your personal financial circumstances or investment needs and does not provide any investment advice. Examples presented are for educational purposes only. Any stock, option, warrant, CFD, currency or future contract mentioned are not a recommendation to buy, sell or hold but merely a study of past performance.
Before making any investment decisions you should obtain advice from a licensed securities advisor and consider with or without the assistance of a securities adviser, whether the advice is appropriate in light of the particular investment needs, objectives and financial circumstances of the prospective investor. Trading Edge and its representatives and officers will not accept liability for any loss, damage or expense incurred or suffered by you if you rely on any information provided in making investment decisions. By attending any Trading Edge event or reading or viewing any Trading Edge material you are implicitly agreeing to the conditions set out above.
Last week the All Ordinaries index made a two day counter trend down before continuing its rise into the stratosphere! A new all time high was made at 3877.1 on Friday, November 12.
I mentioned last week reversal dates November 5-8 and November 12. The market reversed November 8 … let’s see if it has a down day on Monday.
A point of interest/observation: From the March 13, 2003 low, the index is working on the weekly harmonic of 90 … look at the lows at 15 weeks, 30 weeks, 45 weeks, 60 weeks, 75 weeks … 90 weeks is in 3 weeks time!
Reversal date as mentioned last week - November 19-22.
I will be in New Zealand for a well deserved break for the next two weeks, but still hope to get a report written each week.
Disclaimer
The training and eduction services provided by Trading Edge Pty Ltd (acn 053431842) involve the supply of factual information about securities and securities markets only. It should not be assumed that the methods, techniques or indicators presented will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. The training and education services do not involve any recommendations in relation to your personal financial circumstances or investment needs and does not provide any investment advice. Examples presented are for educational purposes only. Any stock, option, warrant, CFD, currency or future contract mentioned are not a recommendation to buy, sell or hold but merely a study of past performance.
Before making any investment decisions you should obtain advice from a licensed securities advisor and consider with or without the assistance of a securities adviser, whether the advice is appropriate in light of the particular investment needs, objectives and financial circumstances of the prospective investor. Trading Edge and its representatives and officers will not accept liability for any loss, damage or expense incurred or suffered by you if you rely on any information provided in making investment decisions. By attending any Trading Edge event or reading or viewing any Trading Edge material you are implicitly agreeing to the conditions set out above.
Monday, November 08, 2004
Australian All Ordinaries Index (XAO) for week beginning November 8, 2004
The last possible short position was very short indeed! No sooner did it confirm then it shot back up to make record highs every day. The great thing about the market is that analysis at best gives you the probability but the market always tells you the correct direction. WD Gann said to be ready to admit your analysis is wrong and reverse your position.
Reversal dates over the next two weeks are:
Reversal dates over the next two weeks are:
- November 5-8
- November 12
- November 19-22
The All Ords is in the time period to reverse into the 20.5-month trough. The rise was 1200.4 points from the low on March 13,2003. If 3866.7 is the high for this cycle then expect the low to fall somewhere between 3121 and 3407, with the strong resistance at 3266. Before we get too excited about a decline we need to wait for a counter-trend confirmation.
Watch for minor support around 3770 and 3672. Major resistance at 3888.
Disclaimer
The training and eduction services provided by Trading Edge Pty Ltd (acn 053431842) involve the supply of factual information about securities and securities markets only. It should not be assumed that the methods, techniques or indicators presented will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. The training and education services do not involve any recommendations in relation to your personal financial circumstances or investment needs and does not provide any investment advice. Examples presented are for educational purposes only. Any stock, option, warrant, CFD, currency or future contract mentioned are not a recommendation to buy, sell or hold but merely a study of past performance.
Before making any investment decisions you should obtain advice from a licensed securities advisor and consider with or without the assistance of a securities adviser, whether the advice is appropriate in light of the particular investment needs, objectives and financial circumstances of the prospective investor. Trading Edge and its representatives and officers will not accept liability for any loss, damage or expense incurred or suffered by you if you rely on any information provided in making investment decisions. By attending any Trading Edge event or reading or viewing any Trading Edge material you are implicitly agreeing to the conditions set out above.
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