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.

Thursday, April 28, 2011

Odd behaviour but All Ords on track for further gains

In the past week, the Dow is up over 5%. In the same time, our market is not even up 2%. That seems odd. Will we eventually catch up or is the Dow on a frolic of its own which won't last? I wish I knew. What I can say is that despite the weakness of the past 2 days, our market has not closed the gap it formed on April 21. If that gap holds, we should soon follow the Dow to new highs. If the gap doesn't hold, we will need to reassess the situation. If last week's low fails to hold, the alarm will start to ring as that will likely turn the XAO Indicator red. For now, we are blue and optimistic.
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