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S&P/ASX 200


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I've been looking at the chart and was thinking that this could be the bounce that occurs part way through a correction. Going by the support line for the all ords and the last correction's % drop, this would point us towards 6100 on the all ords (haven't done this for the ASX200 yet but I am sure we could be looking at something similar).

 

This is just a possibility.

 

post-37-1181880156.gif

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In reply to: romaioi on Friday 15/06/07 12:02pm

PS, I've read before that a significant bull market correction is, on average, 10-15% (elliott wave stuff possibly).

 

15% is in the ball park of 5400 points. This also corresponds with the long term trendline shown in the attached chart.

post-37-1181917942.gif

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In reply to: romaioi on Saturday 16/06/07 12:32am

Hi romaioi....I would draw a different bottom line angle than you have.

 

I suppose that is what makes it all unpredictable.The interpretation. http://www.sharescene.com/html/emoticons/smile.gif

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In reply to: Wysiwyg on Friday 15/06/07 10:47pm

Hi Wysiwyg,

 

Thats why I don't bother with precision drawings myself. Would be interested to see your version if you have a chance to put it up.

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Hi Danville,

 

I think i remember you mentioning a couple of times that ASX200 cfd is unusually bullish after hours. As I write i can see what you mean. The spx is clearly turning down and the ASX200 has been threatening new highs at the same time.

 

As per Baz's suggestion, i'm going to see if i can take advantage of it.

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In reply to: romaioi on Friday 15/06/07 10:32pm

Well we finally had a break in the support that now leaves us in a down trend......dammed inflation figures.

 

I guess what I said last time on this subject, regarding th price target, now comes into play. Anyone else have any suggestions as to where we might be heading.

post-37-1185529729.gif

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In reply to: grahame11 on Friday 27/07/07 07:59pm

Ooopsss.....I'll try it with the attachment!!!

 

I track the SPI200 itself....it is looking very oversold....take a look

 

post-37-1185530472.png

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