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.

Sunday, October 24, 2010

All Ords dilly-dallies

While the Dow tests April highs, the All Ords languishes 6.5% below its April high. Is the All Ords lagging or telling us not to go there? At the moment it can't convincingly shake the resitance zone (4700-4750), although it has broken the trend-line. Interestingly, after breaking the trend-line, it pulled back, touched it and then bounced off it sharply. Also, the XAO Indicator remains blue. The next post "A Tale of Two Cities" could explain the indecision - resource stocks are powering ahead while financials charge in the opposite direction - no wonder the All Ords is standing still caught in the middle of the tug of war.
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