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, October 4, 2010

Resistance holding on All Ords - but will it last?

So far, the resistance level (4700-4750) is holding back the All Ords but will the 'levee' hold the 'rising waters'? Time will tell. Here's an updated chart. Keep in mind that the XAO Indicator is blue and there have been a number of changes to the indicator in recent times. That tells me that if the All Ords were to break upwards it could break hard and fast - 5000 would be the next stop.
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