xjo weekend zoomba lounge, page-56

Hi Ophir,

Here's a chart I'm preparing to use in my Weekly Redback Report - but provides another look at the trend line question you asked - and the problem of subjectivity.

The Chart is a weekly chart of XJO and shows a trend line across the tops of the highs in April and May 2012. This week the chart crossed above the down trend line from Apr/May 2012. Is that conclusive?

The chart also shows that it hasn't been able to break above the 30-Week EMA since May 2011.

Also, this week hasn't set a new higher high. It needs to break above 4335 (the high in early December, 2012) to do that.

Subjectively - I'd like to have as many ticks as possible going for the XJO before considering a major long term change in trend.

Maybe I'm just too cautious.

Redbacka