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

[SilverSanchez]

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

Source: me

 

[SilverSanchez]

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

 

[Silverthorn]

Posted this one a while back but it hasn't manage to move away from 4300.

http://www.smh.com.au/business/markets/shares-may-finally-crack-4300-ceiling-20120326-1vtp4.html

 

[SilverSanchez]

There has been so many false breaks - but looks like she wants to bust through

Don't wanna be too bullish yet

 

[SilverSanchez]

30 day exponential ma is acting as support after today's close
bullish signal for now at least

Still that 3300 resistance

 

[SilverSanchez]

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

 

[SilverSanchez]

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.

 

[wrcmad]

The 200day sma for the asx200 is at 4213, so if it breaks below there and hold for about 4 days - watch out

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.

 

[dcl]

Technical analysis aside, what do you guys think a 'fair' value for the ASX200 is?

 

[SilverSanchez]

If it does break to the downside - id say target 3800

 

[wrcmad]

Technical analysis aside, what do you guys think a 'fair' value for the ASX200 is?

About 3900

 

[havo]

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.