**
XJO
Mth -
The price chart in the Toolbox Home Page
header.
(updated 3 February 2012)
Note the
details of the share price chart in the page header of the Share Market
Toolbox home page. It is a monthly
candlestick chart of the XJO index (S&P/ASX 200).
- This chart is reminding us our market peaked in October/November 2007, and is still below that peak.
- The
timescale is from the bull market peak in October 2007 until February
2012 (each vertical grid
line and candle is one month).
- Each candlestick on a monthly candlestick chart summarises the price action for a whole calendar month. Not sure about candles? Basic
details here...
- Our market has not yet made a new high since October 2007 - now 4+ Years!!!!
- The vertical value axis has horizontal grid lines
from 3000 to 7000 at intervals of 1000.
- You can see the last few
monthly candles
were nudging the 5000
point
level about 2 years ago in March 2010 (the February 2012 candle is now forming).
- And both the XJO
and XAO
indexes were hunting around either side of the
30-week Moving Average, before a major fall in May 2010 and recovery in
the following months; but basically has traded sideways for many months
now (our money might have been better off in the bank!).
See the Weekly
Share Market Analysis in the Members' Area for details.
I have also added the 30-week SMA (refer Stan
Weinstein's strategies - details
for Toolbox Members on this web page),
and until mid-January 2010, the index was tracking above it -
suggestive of bullish conditions. But in early May 2010 the index plunged
below the SMA! And now in February 2012, the index is again tracking above the SMA! See my Weekly
Market Analysis for more juicy comments about Weinstein's strategy.
Robert
Brain
ps: Watch out for the sharks in the ocean!