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, February 14, 2011

All Ords continues upward

The All Ords continues on its merry way and now promises to move into the upper half of an upward sloping trend channel which began in mid-2010. At the same time, the XAO Indicator continues to be blue indicating that (since 7 September 2010) its been a good time to be long stocks. Once the All Ords enters into the upper channel, the target would be at least 5200, with 5300 more than just a possibility. And by the look of the charts of some of the big-caps like BHP, RIO, CBA etc, there could be much higher prices to come.
Click on chart to enlarge
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