David Schirmer's Stock Market Indices Report - October 8, 2007

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.

The Australian All Ordinaries Index is in week 8 of its 22-week Primary Cycle. I wrote in my last 2 reports that I expected October 9 to be a reversal date also that there is resistance at 6711. That is still my bias that the market turns down tomorrow (Tuesday). This could be a typical decline into a half Primary Cycle trough (week 10-13).

I expect the market to turn down for at least a short term decline to 6235 points over the next week or so. If it retraces more than 602 points then prepare from a much longer decline to follow. If it continues to rise just hang on for the ride!!

Resistance levels for the XAO this week are 6711, 6819 and 7036 support is at 6545, 6469, 6394, 6235, and 6093 and ... the next reversal dates are October 9, 12 and 22.

Next report out on Monday, October 15. If for some reason you miss my weekly report you can read them on my blog http://davidschirmerxao.blogspot.com/

UPCOMING SEMINARS: *ALERT* *ALERT* *ALERT*

Mastering The Stock Market – The Basics seminar is coming to Brisbane, Sydney and Melbourne. I haven’t run this seminar for ages and people have been constantly asking for it. If you haven’t been to one, or have a friend or associate who would like to know the basics of making money with the stock market then here is your opportunity.

One of our very experienced Platinum Super Traders, Paddy Weiner will be conducting it and you will learn heaps. I normally change $165 for this event and people always say that’s far too cheap for the information they receive … this is a once only event and a special offer to come along and get all the information for just $49.50! Either give our office a call to book in or register directly online:

Sydney - Wednesday, 17th October 2007 - CLICK HERE
(or copy and paste this URL into your browser http://tinyurl.com/2g8yw6 )

Melbourne – Wednesday, 24th October 2007 - CLICK HERE
(or copy and paste this URL into your browser http://tinyurl.com/yr88ba )

Brisbane – Thursday, 25th October 2007 - CLICK HERE
(or copy and paste this URL into your browser http://tinyurl.com/2ccdce )


Yours in abundance,

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.

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