Australian All Ordinaries Index (XAO) for week beginning November 22, 2004

‘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!


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