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 weekend I attended Tony Robbins Unleash The Power Within (UPW) seminar in Sydney … after jumping around and yelling for four days and getting home late Monday night this report had no chance of getting done. If you have never experienced a Tony Robbins’s seminar then do yourself a favour … get along to one, it could change your life! This was my eighth time since 1995.
Better get back to the stock report! Two weeks ago I mentioned that the reversal dates for the Australian All Ordinaries Index were September 10 and 17 … the market made lows and turned on September 10 and 18. The index hasn’t shown the signs of weakness as I expected, however it still hasn’t broken through the all time high of 6469.
What will happen this week?
The Australian All Ordinaries Index is in week 6 of its 22-week Primary Cycle which started on August 16. If this is to be a bear cycle then it has to make its high on or before November 1, 2007 and start heading south again. If it is to continue its previous bull campaign then it would need to rise beyond early November without taking out the August 2007 low. As the long term 18-year cycle low is due my bias is still that this cycle at best would have a final burst up before continuing its decline.
Other world indices have not been as strong, further strengthening my bias of a continued decline.
Resistance levels for the XAO this week are 6469 and 6602, support is at 6346, 6224, and 6203 and ... Reversal dates are November 24 and October 9.
Next report out on Monday, October 1. If for some reason you miss my weekly report you can read them on my blog http://davidschirmerxao.blogspot.com/
UPCOMING SEMINARS: 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
P.S. A new Secret product is about to be launched – “How To Apply The Secret Step-By-Step”. We are pre-launching only to our Market Index readers and Secret Affiliates. Click here or copy and paste into your browser: http://www.thesecret.com.au/howtoapply.html
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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