xjo christmas zoomba lounge, page-18

Disco - you get a TU from me.

XJO (ASX200) +1.2%
XTL (Twenty Leaders) +1.1%
XFL (Fifty Leaders) +1.1%
XFJ (Financials) +1.3%
XMJ (Materials) +1.6%
Energy +1.2%
XSO (Small Ordinaries) +1.8%

Comment: Today, the market gained what it lost yesterday. Swings and roundabouts? Don’t take any notice of volume today. Low. Early close and many institutional traders have already left their desks.

Just for interest – here are theXAO trading volumes for the past three years, i.e., post GFC:

2011 – 578,496,454, (market closed at 4140.4, up +1.2%)
2010 - 479,583,6341, (market closed at 4868.3, down -0.4%)
2009 – 433,666288, (market closed at 4803.3, up 1%)

If you can read anything meaningful into that – you have a a great future as a fortune teller. The only thing it tells me is that 2011 was a bum year.

INDICATORS:
RSI.9: 48.1. Below 50. Negative.
MACD Histogram. Marginally above zero. Neutral.
MACD . Marginally below zero. Neutral.
Stochastic: 26.3. Above its signal line and the 20 line. Positive.
CCI.14: -56.6. Rising from well below -100. Positive.

Nice to see the stochastic get a bullish turn up.

The short term trend is up – but must cross above horizontal resistance at 4140 for confirmation. That resistance/support level of 4140 keeps showing up like a bad penny. If the market can get above 4140, then a test of the big blue oblique down trend line is on the cards. That more or less coincides with the 150-Day Moving Average – so it’s an important double whammy level.

Merry Xmas
Redbacka