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.

Monday, September 13, 2010

All Ords update

The XAO Indicator turned blue on Sept 7 as expected. This is now the 6th change in the indicator this year. That is a record. Old traders will tell you that a long period of indecision in the market will often be followed by a dramatic move. The question is which direction will that move take? Well, I have my suspicions but investing and trading should not be a guessing game. Personally I will be following the XAO Indicator. While it is blue, I will be long, when it turns red I will be taking precautions. Here's today's chart. The downsloping line is a trendline connecting the Nov 07 high with the April 10 high. The horizontal line (4,735) is the predicted point at which the downsloping line might intersect the All Ords.
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