Welcome to my Stock Market Indices Report. 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.
I’m back again … I missed posting my report for the past 3 weeks. I left my laptop on the plane on a flight from Brisbane to Melbourne and on it was all my reports, charts and market data … everything!!! (no, I didn’t have it backed up externally). Thankfully Qantas finally found it and I’ve got it back.
Most major markets experienced what appears to have been a half primary cycle low around the 22nd October. Most of the western markets have been unable to take out the high leading into the half primary cycle low.
The FTSE, Dow and S&P500 have all failed to create a new high and displayed weakness towards the end of last week. The Hang Seng surged higher and the Australian All Ordinaries also created a new high but not quite as strongly.
Critical points to watch this week is whether support is firstly found at the low of last week and then at the level of the low of the 22nd October. If these levels are exceeded then this could be the start of a much more significant decline.
The middle of this week is a high energy period for a reversal in the markets. Areas of support for the All Ordinaries next week are 6705, 6559 and 6345. Points where the All Ordinaries could experience resistance advancing higher are 6798, 6873, 6894 and 6964.
Next report out on Monday, November 12. If for some reason you miss my weekly report you can read them on my blog http://davidschirmerxao.blogspot.com/
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David Schirmer
P.S. 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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