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.

Saturday, February 26, 2011

All Ords tests trendline support

The XAO Indicator held blue during this week of declines but the All Ords now sits right on an established trendline. In a somewhat positive sign, the All Ords made a new low today, briefly traded below the trendline and then rallied strongly. We should see a rally for 2 or 3 days or so. I suspect that the strength or otherwise of that move will give an indication of which way this market now wants to go. Here's an updated chart. Click to enlarge.
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