Hi Welcome to my blog. My name is Suresh. I am in Brisbane, Australia.
A decision was taken recently to actively trade the S&P/ASX 200 Index in Australia. This blog is to record the trading exploits.
Currently it has been established that the S&P/ASX 200 Index found resistance at 4637 on 14th December 2009.
However on the 22nd of December the S&P/ASX 200 started a countertrend move when it rose through the 4646 level. This countertrend move is expected to complete at a point above 4881.
The 4881 price point is like a trapdoor for the index.
The following are the ways that the index can open up this trapdoor.
- with the relative strength of the index being below 4881 the index is required to close above 4881 and then subsequently open weaker at a price above 4881 and fall through the trapdoor
- however in the meantime if the relative strength of the index rises above 4881 then it will have to open stronger above the 4881 level and then fall through the trapdoor.
So the end of post position is long the S&P/ASX 200 from 4646 on 22nd December 2009.
Just finally a plug for a new jobs portal that is about to start in Australia please go to www.jobshere.com.au and have a look around. Please add it to your bookmarks for future reference. Please tell your friends about www.jobshere.com.au
A decision was taken recently to actively trade the S&P/ASX 200 Index in Australia. This blog is to record the trading exploits.
Currently it has been established that the S&P/ASX 200 Index found resistance at 4637 on 14th December 2009.
However on the 22nd of December the S&P/ASX 200 started a countertrend move when it rose through the 4646 level. This countertrend move is expected to complete at a point above 4881.
The 4881 price point is like a trapdoor for the index.
The following are the ways that the index can open up this trapdoor.
- with the relative strength of the index being below 4881 the index is required to close above 4881 and then subsequently open weaker at a price above 4881 and fall through the trapdoor
- however in the meantime if the relative strength of the index rises above 4881 then it will have to open stronger above the 4881 level and then fall through the trapdoor.
So the end of post position is long the S&P/ASX 200 from 4646 on 22nd December 2009.
Just finally a plug for a new jobs portal that is about to start in Australia please go to www.jobshere.com.au and have a look around. Please add it to your bookmarks for future reference. Please tell your friends about www.jobshere.com.au
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