Anyone notice that the XJO (asx200) has turned technically bullish?

SilverSanchez

SilverSanchez

Active Member
Above 200 dma

30 day ex.m.a above the 30 day s.m.a and both bellow the share price = bullish if it can hold a few more days

In slipstream language (although i use slightly different ma's) intermediate and long term uptrend

578204_10150635590401540_674666539_9423046_1982859715_n.jpg

Source: me
 
If it cant break through the resistance - get set for a fall or a very tight short term range

S&P500 (USA) is still bullish and not looking like slowing down

So - make your own conclusions
 
30 day exponential ma is acting as support after today's close
bullish signal for now at least

Still that 3300 resistance
 
I was also revising individual stock health

out of my babies from the GOLD/SILVER/PLATINUM miners
SLR, TRY & EVN

Are the only ones still above their 200 day moving averages
Also according to my oscilator are over sold (doesnt mean a buy)

SLR and EVN are under valued according to ev/total defined resource EVN is most so
 
The 200day sma for the asx200 is at 4213, so if it breaks below there and hold for about 4 days - watch out

Im looking for a full correction of the XGD (ASX gold ords) to 5000 which is a return to 2007 levels.

I think both silver and gold will false break their supports - to complete the selling of the herd who moved in from late 2010 till now - lots of money moved into gold at 1600 so they need to be scared out hence the false break to the downside.

The asx and s&p will ralley to support the above. Dont know what will happen in europe which could modify the above, QE would modify the above also.

I reserve the right to be wrong - and everyone needs to make their own choices, coz im not a professional nor am i an advisor.
 
SilverSanchez said:
The 200day sma for the asx200 is at 4213, so if it breaks below there and hold for about 4 days - watch out
Click to expand...


Agree. To me, ASX200 is looking ominous.

Daily shows clear 50% retracement that is struggling to be broken, with MACD showing bearish divergence, and price dancing either side of support.

Weekly looks a whole lot worse, retracement completed, MACD bearish divergence, with a break of support indicating downside target around 3600-3700.

I also reserve the right to be wrong. :)

4088_asx200.jpg


4088_asx200b.jpg
 
As an aside i see that the eurostoxx 50 is trading at around 9 times forward earnings and 1 times book value. Now the question is whether those earnings or book values hold...

Back to the main topic - as long as the asx 200 is under 4300 i would be bearish.
 
You must log in or register to reply here.
Back
Top