All Ords Index.

[Hoop]

With AllOrds up 12 today already & only 14 to go to magic 5000, irrational euphoria is stirring!
Time for cooler heads to pick up some of the coinage being tossed about?

In hindsight so far.. that was a good move Sharer well done.

The index only got up to an intraday high of 5086 on the 15th of April...then turned down


Today atm 4831....
4900 major support line busted
11 week uptrend line busted
4500 post correctional bottoms to be revisited?? (small support at 4700)
Another bull trap experienced or could it be a bear trap this time !!

Late sudden drop in metals not a good sign
Todays chart is looking Ugly

[sharer]

In hindsight so far.. that was a good move Sharer well done.
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11 week uptrend line busted

Thanks Hoop. I follow all your posts with interest & hope to learn something. If i ever get it right it is just a lucky amateur's lurch

... Late sudden drop in metals not a good sign
Todays chart is looking Ugly

Yes, i've been pondering the same sort of thing, as i look to reinvest modest profits taken from "speculative" stocks into something more "solid". My "short list" has got even shorter lately - e.g. the BHP chart fits your Ugly category, maybe it could be on the Buy list soon, if we can spot signs of the present sharp fall ending.
More worrying is your note of recent trends in metals. If this fits the idea of the long-forecast slowing & consolidation in China's economy, the investment prospects change very quickly.

[wbosher]

Hang on to something, here we go again.

Good chance to get some cheap shares again.

[trackers]

asx200 down 1.5%.. DJIA/S&P500/Nasdaq futures currently in the Green...

I'm personally not hitting the sell trigger quite yet, happy to wait out the week at this stage...

[Footsie]

asx back at 4500 - if it gets there -would probably put the overall index on a p/e of around 10x

make up your own mind as to whether you think that is good buying or not.

[STRAT]

Actually I havent been hit too hard today. Bit top heavy in energy/oil stocks mind you. Considering the number of specs I have I thought Id get hammered. Im not too worried
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Yet

[trackers]

asx200 down 1.5%.. DJIA/S&P500/Nasdaq futures currently in the Green...

I'm personally not hitting the sell trigger quite yet, happy to wait out the week at this stage...

ASX ended 1.2% down.

DOW up 0.65%, Gold to new highs, and OIL up on waning US inventories. This makes me a happy chappy indeed

[Phaedrus]

Note that the trend ribbon at the bottom of the chart is of the SP500 Index, not the AllOrds. Usually the two indices move closely in tandem, but overall, the SP500 signals are demonstrably more profitable than the AllOrds signals. See how the latest SP500 Buy signal (blue arrow) came in lower and over 2 weeks ahead of the AllOrds Buy signal. (Green arrow).

Translation :- The SP500 Index will provide good confirmation and possibly early warning of any significant weakness in the AllOrds Index.

[STRAT]

Thanks Phaedrus

[trackers]

Thanks Phaedrus, personally feel that the music may be about to stop (though your MSI is still well in green territory) so this is helpful info! Been keeping a keen eye on the DOW, but maybe should switch my attentions to the S&P500 instead...