The Xjo started its new cycle on the 4 Aug and stabilised after an appalling sell down on the 3 August, a flush out that normally happens before a trend change or turn date.
Through history turn dates related to the current cycle (8 - 12 August) normally produces a 100 + point average return for the week sometimes even 200 points. So it is going to be rocking and rolling next week.
The Xjo can possibly run higher for the rest of the month of August but there is a wave cycle that ends on the 12 August that could escalate or reverse things.
17 August is also a key date for escalation or reversal - coincides with option exipry.
I have positioned to see 5700 + on the XJO sometime in August. XJO Calls were on sale the last 2 days.
Good luck to all.
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |