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S&P/ASX 200

XJO AUS200 retraced only 0.382, chops around median of pitchforkXJO acting as an inflation hedge, except when recession kicks in, which will kill all demand. XJO or AUS200 is outperforming US indices coz in a high inflationary environment, a country producing a lot of commodities tend to do better. Another example is Brazil with ticker symbol EWZ, which is also a good inflation hedge if dont want to use PFIX to capture rising rates. Gold right now is crashing with equities & not acting like an inflation hedge as it is supposed to do. As you can see in the chart, there is a perfect pitchfork with XJO chopping around the dotted median. As shown in the past, the green pitchfork level should offer a strong support should XJO fail to hold the median of pitchfork. On the other hand, a bounce from the median may send XJO to the top of the pitchfork for a new high. Also, XJO has made many measured moves…like the 3 DARVAS boxes or fractals down from its all-time-high. landing or stopping exactly at the Fibonacci 0.382. Next stop may be the 0.50 Fib & also along the green pitchfork level mentioned above. Among some Australian commodity stocks doing well are IGO (lithium), BOE (uranium), & BHP (metals & potash) Not trading advice
ASX:XJOLong
by xtremerider8
XJO Short - Potential Traditionals RetracementIntroduction Date: 02/12/21 Time: 11:00 AEST Topic: Traditional markets bearish Forecast : A drop down to about to the red weekly supply zone (currently encroaching on it). Will be watching closely to see whether we reverse and gear up again, or are in for more prolonged pain Summary The traditional markets seem like they are experiencing some painful bleeding. Since the March 2020 Covid dump, the world economies bounced back rather aggressively. That said I believe there is a growing disconnect between the Delta variant (and potentially the new Omnicron variant) and the economy. Along with this, there seems to be more division within the world relating to the vax, mandates, politics etc. Countries worldwide are having more aggressive postures towards one another (Russia-Ukraine, Chine-Taiwan & Israel-Iran). China has had to cut back on electricity usage and Europe has stated that over the winter months their citizen might experience. Russia has made new gas deals and is limiting output to certain European countries. America's days seem numbered under the current president with all-time-low ratings and America is experiencing increased rioting, looting and racial divisions. Worldwide inflation is seemingly skyrocketing and concerning, with the FED having printed roughly 40% of the global USD money supply since the start of 2020. There has been a large increase in the purchase of precious metals by banks and citizens which makes me think this isn't over. Whether things will get better, or we head into more prolonged pain with a potential for a Black Swan event, time will tell. If you have an equities portfolio, I would consider either selling your position into cash, hedging your portfolio with inverse ETFs or long puts (that way you avoid selling out of your positions and incurring CGT), or a more risky play is entering a short position. I am waiting for a proper bounce out of the supply (turned demand) zone and confirmation from news and the algorithms, before I enter long again About Me: Starting off as a typical retail investor, I entered the trading space in 2017 and proceeded to buy bitcoin as it was going up thinking the moon was the limit. Safe to say I was wrong and learnt very quickly that 'What goes up, must also come down at some point'. Since then I did a proper trading course where I learnt the art of Technical Analysis and have never looked back. Increasing my knowledge from reading a tonne of books, listening to podcasts as well as reading and researching other traders has really benefited my trading skills and style. I am now a full-time equities & cryptotrader at one of the first firms specialising in cryptocurrencies. I am also a coach, teach and mentor to other like-minded individuals who want to succeed within the trading space. If you want to learn more about TA, trading and be financially independent, then let me know and I will help you get there! Financial Disclaimer: I am not a registered broker/analyst/investment adviser. The information contained within this post is general/educational information only, not financial advice and should not be treated as such. Trading and investing in Forex, Stocks, Commodities and Cryptocurrencies involves high risk, and is not recommended if you are not a trained investor, who has conducted proper research and training. Viewers are responsible for how they use this information and I am not responsible for any losses incurred as a result of the information provided. Please consider carefully whether trading is suitable for you, given your current circumstances, financial situation and knowledge.
ASX:XJOShort
by OllyBakker
1
Flight Centre Bullish Trend ?FLT is one of most populer Stock to trading, now we look at the chart the trend is bullish, how to catch the bottom? now i look you can have a plan buy on weakness at 17.65 area bottoming, if reverse, that will going up to close the gap at 35.50. Are you have a same idea? , Comment in below, The Story still good for FLT because Australia will be reopen flight for international on end of november or December, so follow this story and take your Profit!! Disclaimer On
ASX:FLTShort
by Kelvin03A
Will the markets meltdown and hammer the bulls as yields rallyThe action has been very heavy this week and major indexes have been pressured lower. There is a lot for bulls to think about and many will be getting nervous. Will the FED come to the rescue again??....and will the Dip Buyers provide support again. In the video I take a look at my key markets and how I am approaching the current market action. I look at US 10-year bonds, the USD, SP500, DOW, Nasdaq and the ASX200.
CBOT:ZN1!
by TradeTheStructure
Where to for the XJO - is it time to go short?I note that there is a lot of noise in the financial media currently around potential collapses in the Chinese property market and various other factors, but let's screen that out and have a look at what the XJO chart is showing. From the chart, it looks reasonably apparent that a downtrend has started forming, starting from the most recent high of 13 August. The chart shows that following the open on 14 August, the market failed to make a new high and started trending downwards for the following week. Fairly solid resistance was then found at around 7460 on 19 August with several retests until around 9 September (between these dates the market seemed to be trading in a fairly tight 60 point range). On 9 September the support level was broken and for the following week or so (until 17 September), the previous support level providing resistance, with another support offered around 7360 (the close on 9 September). Today's movements seem to pretty clearly break through that resistance, but we'll need to see what tomorrow brings to see if there is confirmation of the breakdown. Other things that I note on the chart are the 20 and 50 day MAs. To me, it looks like the 20 day MA will likely cross the 50 day in the next day or so (a bearish indicator in my view). All in all, for me it's not wholesale shorting time until the 200 day MA is broken at around 7000, but there may be opportunities in the short term if you're looking for them. So in summary what visible to me on the chart * A clear downtrend indicated by both MA slopes and a pattern of Lower Highs and Lows * Two clear breakdowns from ranges, with support flipping to resistance. * MA crosses likely. Anyway if you've liked this post check out my blog - www.nickthetraderguy.com
ASX:XJOShort
by NicktheTraderGuy
2
Elliott Wave View: ASX 200 (XJO) Looking to Complete Wave 5Elliott Wave view in ASX 200 (XJO) suggests the rally from February 1, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from February 1 low, wave 1 ended at 6938 and pullback in wave 2 ended at 6648.6. The Index resumes higher in wave 3 towards 7172.8 and pullback in wave 4 ended at 6919.4. Wave 5 is currently in progress and the internal subdivides into another 5 waves of lesser degree. Up from wave 4, wave (i) ended at 7056.4 and dips in wave (ii) ended at 6999.6. Wave (iii) ended at 7115.2, dips in wave (iv) ended at 7090.1 and final leg wave (v) of ((i)) ended at 7136.4. Wave ((ii)) pullback then ended at 7082.4 and the Index resumes higher in wave ((iii)). Up from wave ((ii)) low, wave (i) ended at 7203.3 and wave (ii) pullback ended at 7131.9. Wave (iii) ended at 7309.4 and wave (iv) ended at 7267.6. Near term, Index can see 1 more leg higher to end wave (v) of ((iii)), then it should pullback in wave ((iv)) before turning higher 1 more time to complete wave ((v)) of 5. This should also end cycle from February 1, 2021 low and then Index can see larger pullback.
ASX:XJO
by Elliottwave-Forecast
XJO - no time to panicThe ASX has just broken its ATH on Monday at 7172 (although I'm told if you add in dividends, we're actually quite a bit higher). However, the moves today (and likely tomorrow judging by the US futures), will likely cause some concerns amongst traders. Its a relatively big move (at least for the last couple of months), but in the scheme of things, today is just 1% down. From what I'm seeing the XJO just slightly above Monday open and around the high point of Friday. Nothing to worry about here. In addition, the overall trend is still up and the Bollinger bands are starting to expand again after tightening last week. TO me the ASX actually looks like it has broken out from a range it was stuck in over most of April, this could just be profit taking or a pullback after a big move yesterday. Although I suspect that it's entirely being driven out of fear arising from the US Markets. All in all, I think these are pretty bullish markers currently. I'm watching it closely and I think the telling point will be if the 50 day MA is breached at around 6900. Anyway, happy trading and if you like this post, check out my blog at www.nickthetraderguy.com. Cheers, Nick the Trader Guy
ASX:XJO
by NicktheTraderGuy