Thanks Jako
Yearly Highs and Lows
The Hi-Lo Summation travelled sideways as did the XJO on a close to close basis.
Hi-Lo still within the limits, so the story hasn't changed even after all the intraday volatility.
Candles
Given the congestion we are in the candles are more difficult to classify.
Tuesday produced in a long legged doji. If the last 2 days are a trend (cough?), then this would be a bearish sign.
![]()
Relatives by Size
Wow, this is getting ridiculous.
Going to the moon is the XSO - it definitely means something, but I don't know what.
![]()
Relatives by Sector
The metals and materials which were recently doing well copped a beating today.
XEC supporting the XSO in the small cap end.
![]()
XSO - WTF?
(A preamble: Each chart below has two panes. The lower pane shows the percentage at which the SP is within the yearly HL range. So if it's at 100, its trading at yearly Highs, at 0(zero), it's at yearly lows. I've sexed it up with full blue being yearly highs and full red yearly lows.)
It's all well and good to say that the XSO is at relatively doing well, so I checked out the absolute performance. While the XJO has been bouncing off yearly highs the XSO is only just about to test them. There is something pushing it up, and its not just a case of the rest of the line taking a step back to make it look like the XSO is taking a step forward.
However, Tuesday's candle was a shooting star, meaning that this all could be coming to an end for the XSO. This, like all candles, requires confirmation.
Why is the XSO performing so well right now?
I can posit two scenarios.
1) The instos are selling the larger stocks expecting a near term down turn, and the spec community is going to be left out to hang.
2) There is still genuine positive risk apetite out there, and this could presage an early start to the July surge in the specs.
Yeah, I know probs doesn't help that much. Trading ranges whaddya do?
![]()
It's Autumn and the Sydney sky is finally clear enough to see a spectacular Autumn moon.
Have a great night all.
- Forums
- ASX - By Stock
- XJO
- Break out the 3D Glasses, this could be Spectacular - Wednesday
Break out the 3D Glasses, this could be Spectacular - Wednesday, page-2
-
- There are more pages in this discussion • 33 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
7,957.1 |
Change
67.500(0.86%) |
Mkt cap ! n/a |
Open | High | Low |
7,889.6 | 7,969.1 | 7,889.0 |
Featured News
XJO (ASX) Chart |