Weekly Wrap

Weekly ASX Stock Wrap

Sunday, February 22nd, 2009

s expect, this week on the XAO was a down week, moving a total of nearly 150 points. Friday closed slightly below a small term support line but there is a weekly support line just below. When looking at the daily chart it was an obvious down week but looking at the weekly chart, it [...]

Stock Market Sideways Movements

Saturday, February 14th, 2009

Lately the XAO has been climbing up on the daily chart, which could lead some to believe the market may be turning. The weekly but shows us a different picture. The last 4 weeks have been a sideways movement. Now it is clearly at the top of a down channel. The higher probability go would [...]

Weekly Wrap – Head and Shoulders Pattern

Monday, November 17th, 2008

After another down week on the XAO, it has produced a potential Inverted Head and Shoulders (INH&S) Pattern. There are two possible scenarios that we could see this week. First would be a continuation of the small term down trend that started last week. If the XAO continues with a negative sentiment this week we [...]

XAO Weekly Wrap

Thursday, November 6th, 2008

Last week we saw the XAO close below a weekly support line on low volume and questioned if it could sustain the go due to the low volume and RSI divergence. When we look at what happened this week we can see the XAO could not sustain the down go and though it travelled south [...]