all ordinaries target...

  1. 436 Posts.
    Hi kiddies,

    just a lazy projection of the XAO's current meanderings... I'm surprised it's climb has persisted this long, but if one assumes that it has impulsed up since 2,666 in March 2003, then the "3rd can't be shortest" rule puts a ceiling of 3,179 on the XAO.

    The XAO's overall pattern, including the rising diagonal that seems to be forming now, and the MACD and RSI, are all consistent with this outlook at the moment.

    So I think everything is lining up for a nice fall into September 2003. Might even start this week, but I suspect the XAO still has a couple of little jumps left in it yet.

    Long term looks favourable for the Oz market, notwithstanding the long-awaited "crash" or whatever in the US market. If the rise since XAO=2,666 was an impulse, then there's at least one more just like it or bigger still to come... might be a Christmas rally in Oz this year...


arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.