fragile friday, page-132

Thanks wogboy, the more people contribute different ideas, the more diverse this thread will continue to be. The XJO thread is a little quiet these days so post away any thoughts you have. You may not be correct in every idea you post but you will learn from the long term XJOers ( or shadow dwellers ) who will critique your work.

On a side note, I must admit 9l and volts calculations wreck my Sunday morning trying to understand and draw what they are saying ( that is a joke 9L & Volt ). I for one do not understand a lot of it, however I was looking at key dates through out the year for repetitive turns. March is probably obvious to a lot of people out there but for those who are new trying to find there feet I thought I would share the below chart.

Now granted I am looking from a bears side, but I also believe the masses ( well XJOers anyway ) are seeing a bounce for the next 6 - 8 weeks from mid July leading into the weakest ( by % loss ) month of the year September.


I have put a vertical line through the Mid of March for the last 9 years to show how this period looks to be a turning point. The two pink lines are the XJO's current support and resistance lines and until either is broken I will be trading with both open positions, short and long.

The two green lines I am using are placed not quites at the tops and bottoms but in a range I like to trade. I expect
if we break to the downside of the pink line we will be hitting the lower yellow line and retesting it as a support for the third time in 9 years.

This is very basic charting I provided for my neighbour last night who is entering the stock market for the first time.
She basically asked is now a good time to buy. I believe for the next 2 months yes, but if you are looking for a long term buy and hold, no need to buy yet. She understands that I can only offer her basic advice from what I see so everyone DYOR before you buy or sell.