Welcome to my Stock Market Indices Report. As we now have subscribers from all parts of the world I thought I would add other markets rather than just the Australian stock market. This report is in no way indicative of what individual stocks will do but rather a general ‘crystal ball’ of overall market movements. Individual stocks often do not move in the same direction or the same magnitude as an index. To know what stocks to buy or what to sell you must do your own study and research. Please read the disclaimer below.
Last week I mentioned that “Markets around the world all have a key period September 4-7 … for the Australian All Ordinaries Index and most indices that should mean a cycle high Tuesday September 4, for many other markets especially currencies it will mean either a cycle primary trough or peak around September 6. In other words, which ever way the particular market is trading into this time period it should turn and head the other direction, for many markets, they will continue their long term trend.” This has again proven extremely accurate ... Here is some of what happened last week:
DAX high Sept 4 7,725
DOW high Sept 4 13,494
FTSE high Sept 5 6,391
NASDAQ high Sept 4 2,644
S&P high Sept 4 1,496
XAO high Sept 5 6,359
EUR/USD low Sept 4 1.3548
GBP/USD low Sept 5 2.0039
My bias is that the Australian All Ordinaries Index should continue to show signs of weakness with a lower swing tops and bottoms on its decline down into longer term cycle lows. The only thing that would change my view is if the XAO takes out the all time high. The other indices mentioned above are all showing similar signs.
Resistance levels for the XAO this week are 6359 and 6469, support is at 6142, 6033, and 5925 and ... Reversal dates as mentioned last week are September 10 and 17.
Next report out on Monday, September 17. If for some reason you miss my weekly report you can read them on my blog http://davidschirmerxao.blogspot.com/
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2½-day Professional Traders Workshop … learn how to leverage successfully, trade CFD’s and short the market to make money from these declines! November 22-24, 2007. Call Paddy on 0413-844-321.
Yours in abundance,
David Schirmer
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Check out http://davidschirmer.blogspot.com/ for insights to my Secret Journey.
Terminology
CAC - The CAC 40 index is the main benchmark for Euronext Paris (France).
DAX - DAX 30 is a Blue Chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange.
DOW - The Dow Jones Industrial Average (The Dow) is the main stock market index for the New York Stock Exchange (USA).
FTSE - The FTSE 100 Index (or just the FTSE, pronounced footsie) is a share index of the 100 most highly capitalised companies listed on the London Stock Exchange. FTSE is an abbreviation of 'Financial Times Stock Exchange'.
Nikkei - Nikkei 225 is a stock market index for the Tokyo Stock Exchange (Japan).
S&P - The S&P 500 is an index containing the stocks of 500 Large-Cap corporations, most of which are American, from both the NYSE and NASDAQ Stock Exchanges (USA).
XAO - The All Ordinaries (colloquially, the "All Ords"; also known as the All Ordinaries Index, AOI) is the main index of shares for the Australian Stock Exchange.
Disclaimer
The training and education services provided by Wealth By Choice Pty Ltd (ACN 112 230 958) involve the supply of factual information about securities and commodity 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 or futures contract mentioned are not a recommendation to buy, sell or hold but merely a study of past performance.
Before making any investment or trading decisions you should obtain advice from a licensed securities or financial advisor and consider with or without the assistance of a securities or financial advisor, whether the advice is appropriate in light of the particular investment or trading needs, objectives and financial circumstances of the prospective investor or trader. Wealth By Choice Pty Ltd 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 Wealth By Choice Pty Ltd or associated companies events or reading or viewing any Wealth By Choice Pty Ltd or associated material, you are implicitly agreeing to the conditions set out above.
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