Wed 6 Aug 2008
Four Charts 08-06-2008
Posted by ray under Market Commentaries
Here are the four charts I promised for Monday nights. I delayed this week because I wanted to see the reaction to the FOMC decision.
FIGURE 1 S&P
FIGURE 2 Strait Times
FIGURE 3 Australian All Ords
FIGURE 4 Sensex
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August 6th, 2008 at 2:12 pm
Ray
Before FOMC and after , my comments refer at:
http://awanginvest.com/?p=621#comment-467
August 6th, 2008 at 2:49 pm
hi Ray, yes i think the All Ords is a data error. This happens to me on the SPI sometimes when they re boot the server in Singapore.Its quite a heart starter when i first wake up!!!! cheers baz
August 6th, 2008 at 2:58 pm
Thanks Baz. What is the correct high price. I’ll write to CSI and advise if you give me the price.
August 6th, 2008 at 3:17 pm
6th aug 08 ohlc 4905.3,5028.3,4905.3,5020.2,hope this helps cheers
August 6th, 2008 at 3:20 pm
Thanks Baz
August 7th, 2008 at 12:15 am
Hi Ray,
This may be a silly question. Apologies if it is.
On figure 1 (S&P), why do you use the retracement levels 55.3% and 44.7%. They’re not retracement levels that I recognize.
Thanks.
August 7th, 2008 at 12:30 am
Hi Oztrader
No apologies necessary. In fact, it’s a reasonable question.
The 55.3% to 44.7% are bands for the 50%.
My current research shows that while some instruments ‘like the 50%’ e.g. Gold, other work better with a band.
I don’t trade the All Ords so I used the band rather than the 50%.
Hope this helps. Hope the new business and your trading are doing well.
August 7th, 2008 at 2:04 am
Thanks Ray.
That’s really interesting.So if you use a band rather than 50% for some instruments, do you always use the same figures 55.3% and 44.7%?
August 7th, 2008 at 2:19 am
Hi Loraine
This is a work in progress. Right now the bands are 55.3 to 44.7 for all instruments.
I’ll let you know if this changes.