Technical Analysis of XAO

[namrog]

Originally Posted by TJA

i hope so mate...I'm cashed up & relying on a breach of 4000...bernake can say what he likes but the shine will always drop off.

TJ,, The fact that Bernacke had to make a statement at all shows that they are worried......

Cash looks like a good idea for now...

Certainly looking bearish for the moment.......and won't be helped by the onset of October, whether one believes it's any worse than other months is questionable, but there are those who won't buy until November regardless...

Keep an eye on the VIX also..................

[bundy1964]

I still think that the support at 4200 will hold, todays numbers and fund managers looking to buy in at that level should support 4200. Hung election so far seems a non event for the market.

We all know the US and most of the EU is stuffed and they have long term problems. Japan has been a basket case for years, the sun still comes up every day though there. Most of the world growth will be through Asia and India with China's domestic demand proping up our economy our future looks brighter than the US for the short/medium term.