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.

Wednesday, April 20, 2011

Bullish reversal on All Ords

The correction of the last 7 trading days looks likely to have ended today with the appearance of a 'bullish reversal' signal. Yesterday's low should now hold for a move back to the recent high - and beyond. Yeterday's low also landed right on the 38% correction level of  the recent rally from the March low. Mark down yesterday's low - 4869 - it now needs to hold for the immediate bullish picture to remain in tact. By the way, the XAO Indicator remains positive.

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