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Index Trading, xjo, dow, dax, ftse
cooderman
post Posted: Apr 21 2021, 04:08 PM
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In Reply To: early birds's post @ Apr 21 2021, 03:53 PM

I thought that 38 Fib. level on Daily may have been support EB. Never looked like reaching it.
Not a bad bounce.
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early birds
post Posted: Apr 21 2021, 03:53 PM
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In Reply To: cooderman's post @ Apr 21 2021, 12:20 PM

10 minutes to 4 pm as i typing, asx200 rallied from day low to 6980ish atm, the daily candle looked bullish, also it will finished the day above that 6950 bullish support level.
looks promise for the bulls for cash market at least to say!!

thanks cooderman for the chart!! tongue.gif




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cooderman
post Posted: Apr 21 2021, 12:20 PM
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In Reply To: early birds's post @ Apr 21 2021, 09:59 AM

7095, Almost touched that high EB. Divergence did form and showed an entry on 4H chart.It didn't trigger a trade on the previous setup on 14th.April on 4H.
You would think another test of 7100 at some point. No idea where this support is. May be6870s. Would have to see how todays Daily candle ends, so that's tomorrow morning.
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early birds
post Posted: Apr 21 2021, 09:59 AM
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ASX 200 Market Internals

The ASX 200 began it corrective phase after breaking beneath Monday’s bearish pinbar and snapping a 5-day winning streak. The daily trend remains bullish above 6954, which leaves just under 20 points of downside util this level is tested. Given the weak lead from Wall Street overnight, it may well test (or even breach that level) today. Take note that BHP Group (BHP) release corporate sales at 08:30.

SPX had long overdue retrace last session , looks going to test that 4105ish support soon.




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nipper
post Posted: Apr 20 2021, 10:30 AM
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In Reply To: early birds's post @ Apr 20 2021, 09:56 AM

from https://www.sharecafe.com.au/2021/04/19/cha...ative-elements/


QUOTE
In recent years, [there has been a] two-speed nature of stock markets globally. As interest rates fell and investors searching for returns entered the market, their strong preference was for 'low-risk' assets. At different times they have found these qualities in defensive companies, such as consumer staples, real estate and infrastructure, and at other times, in fast-growing businesses in areas such as e-commerce, payments and software. At the same time, investors have been at pains to avoid businesses with any degree of uncertainty, whether that be natural cyclicality within their business or exposed to areas impacted by the trade war. Last year, this division was further emphasised along the lines of 'COVID winners', such as companies that benefited from pantry stocking or the move to working from home, and 'COVID losers', such as travel and leisure businesses. Over the last three years, these trends within markets created unprecedented divergences in both price performance and valuations within markets.


However, as we noted last quarter, this trend started to reverse at the end of 2020, as a combination of successful vaccine trials and the election of US President Biden pointed to a clearly improved economic outlook. The result was 'real world' businesses in areas such as semiconductors, autos and commodities started to see their stock prices perform strongly and this has continued into the opening months of 2021.
Meanwhile, the fast-growing favourites continued to perform into the new year, though these have since faded as the rise in bond yields accelerated. Many high-growth stocks have seen their share prices fall considerably from their recent highs, with bellwether growth stocks such as Tesla (down 27% from its highs), Zoom (down 45%) and Afterpay (down 35%).

Theoretically, rising interest rates have a much greater impact on the valuation of high-growth companies than their more pedestrian counterparts. As such, it is not surprising to see these stocks most impacted by recent moves in bond yields and concerns about inflation.....

... and the ASX is definitely not dominated by high growth, so yes your question is relevant, eb ....

It is kinda strange to me that aussie market not out perform other major market during last three months!! i consider aussie market as conservative market. do i got it wrong?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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early birds
post Posted: Apr 20 2021, 09:59 AM
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The ASX 200 was effectively flat yesterday after early gains were later reversed. Oil prices weighed on energy stocks yesterday whilst travel stocks rallied as the travel bubble between New Zealand and Australia has opened up.

The day closed with a bearish pinbar on the daily chart, which shows buyer exhaustion just below our 7100 target. Whilst this warns of a potential retracement over the near-term the trend remains bullish above the 6957.40 low.

===================

DYOR


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early birds
post Posted: Apr 20 2021, 09:56 AM
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In Reply To: early birds's post @ Apr 19 2021, 09:43 AM

seems asx200 went back to old dog days??? ---when US market up aussie go side way when US market down then aussie will down a lot more?? weirdsmiley.gif

it's kinda strange to me that aussie market not out perform other major market during last three months!! unsure.gif
i consider aussie market as conservative market. do i got it wrong??



 
early birds
post Posted: Apr 19 2021, 09:43 AM
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In Reply To: early birds's post @ Apr 16 2021, 08:50 AM

asx200 looks to march on -----over come 7100 today??

SPX , go side way ...kind of thing!!



 
early birds
post Posted: Apr 16 2021, 08:50 AM
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thought SPX gonna retrace last night, but it just keeps powering up even daily RSI in the over bought zone.
my day trading got stopped out.

long asx200 seems gonna pay off , target 7100 today as cooderman chart showed.



 
early birds
post Posted: Apr 15 2021, 09:42 AM
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In Reply To: cooderman's post @ Apr 14 2021, 12:01 PM

Thus far, April’s typically strong seasonality has not disappointed. Before this year, the SPX had been up 16 of the last 20 Aprils with an average move of +2.5%. Eight days into April, 2021, the SPX already is +4.25%.



2

More importantly, over the last two decades, Tech has witnessed a major inflection point vs. the overall market in April. As of yesterday’s close, the NASDAQ Composite is +5.66% in April, and the NDX +6.84%.



3
So far, the Tech rally has helped pull the NDX/SPX 14-Day RSI indicator from the VERY depressed 20 level back to 59, but the indicator remains in a one-year downtrend. That will need to change for this move to have staying power.



4
Both the US Dollar and Swiss Franc are at critical spots, near former breakout points and their respective 50 Day MAs.

=================================
kinda think SPX gonna retest that 4105, before it can go any higher. imho. onlu guess work judge by it's last night's movement!

asx200 , might see buyer step in this morning to push it over 7000 again, bit od consolidation at 7000 round number atm. i'm bullish with asx200!! [ little biased]



 
 


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