I am not a financial adviser so you should not take any part of this blog as being financial advice. Observing and interpreting charts is a hobby and so is this blog. The information in this blog is just my opinion, it may not reflect reality. Stock market investing is risky - you can lose all, or potentially more than all of your money given certain market conditions. Not only can you lose a lot of money buying shares, you can also lose a lot of potential profits by selling shares at the wrong time. So please do not buy or sell shares because of information in this blog. Whether you buy or sell shares is your decision as is the decision when to buy and sell. Do not risk any money you cannot afford to lose. Do not risk any money if you do not fully know and understand what you are doing.

Wednesday, July 21, 2010

No change

The XAO Indicator is still red so the main direction remains down - but there has been a heartening little rally off the recent low (6 July). If the All Ords takes out the high of 14 July, that would be interesting for the bulls. At this stage though, we still need to see the 21 June high of 4,641 exceeded for the XAO Indicator to turn blue and there is an awful lot of resistance to get through starting at about 4,525. The market has been sitting around under that resistance for a couple of months now.



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