phaedrus
ANy technical levels where we might find support?
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phaedrus
ANy technical levels where we might find support?
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After the initial opening fall, the NZX50 has been climbing steadily all day, now back to 3607, only a 1.1% fall overall !!!
Compare that to the ASX All Ords, which has been plunging all day, now at 5,578, so far a 5.5% fall.
NZX50 signalling the bottom of the world wide sell off ????
Probly not, but nevertheless NZX50 doing very well today given the overall situation.
And NZO back to 106 cents = opening price, while other Aussie oilers are tanking like there is no tomorrow.
Something good is on the go with NZO !!!!
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Thanks for your charts, big P! :)
A picture paints a thousand words...
P.. i like your charts, thanks..
Where is DM's 30 day moving average...he would be gutted... seriously. Here is something that i think is quite pertanent. Often these types of graphs, long term, you will often see a correction to be followed by a major spike then followed by a major crash. Is this another one? i have no idea but if it is, it could be the biggest crash in history looming in a couple of years but a huge spoke inbetween.
Just my observation and maybe its a good thing we dont know the future.
Here is a chart of the NZSX50 Index with 10 indicators optimised to monitor the downtrend of the last 6 months or so. You can see that the majority of these indicators are again showing significant market weakness, signalling the start of another "Caution" period. (To me this generally means that all sell signals must be acted on and buying is prohibited).
This set of indicators has worked well in the past, keeping you out of the market while it was falling but signalling re-entry quite early whenever the market strengthened.
http://h1.ripway.com/Phaedrus/NZSX50527.gif
The NZ market is abit like a ghost town. No one around to invest. Thank God for the Aussie market.
ASX all ords looking a bit sick too according to Colin Twiggs
Have a look at his ASX chart and you may change your mind.
I am mainly in under valued oil & Gas stocks in Aussie, so I am not concerned where the market goes. I do have two diversified commodity stocks, LST and ADY. LST is under hostile T/O offer and ADY will take time to mature. I think ADY's is a pup slowly maturing and it will take time. :)