This will be my last waffle posted on XJO before Chrissy so
HAPPY CHRISTMAS YA BUNCHA FREAKS
Big love to the lotta yas! (n especially the mods ya little darlin's :)))))
Okay this is gonna be a wierd excuse for the delay, but ummm big stuff going down on Winkinatcha's street last night.
Orright so I shoulda done the waffle earlier, but I was working on my Trike (finally managed to install gearing) during the day and enjoying the sunshine. I finaly got my arse into gear as well and sat down at the 'puter when I hear all this roaring and shouting outside...
I went to my front room to check out the street, couldn't see anything, roaring and shouting still going on but blocked by the shop awning below.
Across the road at the Lan Gaming shop a bunch of lads are looking back over to my side of the street, one of them runs over shouting "I got his rego, mate" and there is one deep voice still roaring n swearing... so I thinks to myself I better go down and see what is going on.
I toddle off down there and there is this lad (well not so much of a lad, late 30's, a bit pissed... wandering up and down the street roaring and shouting.
With Freaking knife wounds to both forarms, covered in blood and blood pissing out every where... Two people on fones, this lad going off and no-one near him.
So I charge up to the bloke, find out he got stabbed when he asked someone for a cigarett, the wounds are obviously defensive.
I get him to grab hold of the worst one in one hand, rest him up against the wall and sprint back to my gaff (about 200 metres away), Raid my first aid box but I've only got compression bandages, so I grab a sheet, a kitchen knife and sprint back.
Get the lad to sit down, Rip up the sheet into strips, and bind up the worst forearm, freakin blod everywhere...
The man is remarkably lucid though obviously still a bit pissed, however taking the pain like a true champion.
As I've finished binding the first arm some doofus with a phone comes over and starts trying to relay a phone paramedics instructions to me... I tell him to either put the phone on loudspeaker so I can communicat directly or get the hell (well I didn't say hell, but you get the drift) out of my face, I'm busy.
He dissappears.
I manage to finish binding the second forarm and by that time the police have arrived which is good as the wounded lad is getting a bit restless and I'm having a hard time getting him to sit still.
Then the ambos arrive and I assist them a little keeping the lad vaguely calm, have a chat to the girls in blue, and come back to my gaff and wash off all the blood.
Damn... one good shirt messed up and one double bed sheet ruined... LOL.
Very surprising though... of about 10 people standing around not one thought to get in there and physically help the victim... sigh at least I guess they had the presence of mind to ring the cops n ambos.
So yeah, was not in the mood to finsh the report after that... However... here it is.... Shorter form though.
With so little movement on the spi for the last month or so,and little change for tha last week, a full blown report hardly sems worht while ans much of th ehigher time frame stuff is going to be a repeat of what has already been ovbserved.
Soo... I'll do a quick recap of the timespans, and throw a few conjectures out there but all in all my methods in the current market are not much use at the moment.
Note the charts are all dynamic, that is you can click on them to see a bigger version... right click and select open in new tab or open in new window to keep the post displayed with the bigger charts.
There is little change in the monthly candle print so I will give that a wee miss and go directly into the weekly...
Price is hanging around the 21 period MA here and the 32.8 Fibonacci retrace.
A break through the 21 and the current red trendline, currently coincident with the 32.8% fib retrace of the drops would provide a reasonable target.
MACD the marked crossover on the weekly MACD averages is significant, as is the current divergence to price of the forming negative histogram cluster. Stochastic The stochastics are barely pointing down and appear to be "shallowing out" as the fast and slow lines head towards the 50 percent level markeed on this indicator by the dotted horizontal red line. The 50% level could be a bounce point.
Daily:
Once again, price is in a range. with price caught below the declining 21 period MA here I am inclined to consider downside is more likely than up.
MACD The current histogram cluster is suggesting that upside could be the opportunity play short term. particularly if a crosover of the signal line over the slow line (Blue over red) occurs.
Stochastic Below the 50percent line, signal down, slow flat... I got nothing ...
Hourly
Not a lot of clues on this one. Of most significance I beleive is the marked thick blue trendline which has been broken, and then retested. Should price go up early with our market prices reaction around the 4675 level will be interesting.
MACD The current placement of the signal line and the slow line above the zero level suggest that upside initially may be the go.
Stochastic The stochastic signal line at this stage strongly pointing up suggests that at least initially further upside is in the offing.
10minute
The usual caveat of trying to be predictive on a lower timespan after the week's close applies.
Closing momentum suggests upside initially. Howver as highlighted by the arrows...
MACD moving averages are significantly below the height of the most localised high, a further high here may result in continuing divergence already showing in the histograms and this timespan MAY provide good intraday clues for a potential short should it be forthcoming, particularly worth watching as price approaches the marked trendline.
Conclusion Ultimately the range trading in the daily and weekly makes it very difficullt for me to be definitive about major direction one way or the other.... I think for a longer term hold I need to wait for a definitive break in either direction.
Short term suggest up at least on open, however there are enough indications that said up may falter relatively quickly.
The Holiday season and the expected light volume trading that results will be interesting and what trading if any that I do will be predominately based on intraday signals.
(20min delay)