Looks like Today's close signals the FINAL last gasp of the Drawdown I have been banging on about since October 29th 2018 in the [ASX All Ordinaries Index.]
Hoo' Bloody Ray !!!
I must say I had become very bored of the usual quivering voices from the 'no idea Brigade' in what is known as our "Financial Media" . Pathetic, whimpering, simpering Chicken Littles that wet their pants the moment the Market goes through essential, routine, equilibrium price discovery. Its the same boring old FEAR FACTORY every time.
Not only that but they were screwing with my Trading View Post Projection Timetables! NOT ON!
Seriously...its a good thing the 'Financial Media' are Journo's and NOT REAL FINANCIERS in charge of your Money or decisions...you would soon have nothing left having been convinced OUT OF IRRATIONAL FEAR by those 2nd rate Turkeys to blow it all on ridiculous STOP LOSSES equipped complete with a Financial Crisis Bomb fallout Shelter from the 1950's!
Its just GARBAGE dont even listen to them. They confect FEAR and can turn minor blips into MAJOR freakouts. ...but if you worked hard and ALWAYS DYOR, you'd know that.
Back to the All Ords and the title of this Post.
4 Green Soldiers.
A classic and much celebrated Japanese Candle Formation and to cap it off the Close just crept across the 'finish line' breaking Resistance at Post market Auction. The actual Close ended up at 5800.2
A double bottom had formed and the lower prices of recent Months was REJECTED for the 2nd time.
Barring some untoward calamity (dont put it past the Media/Governments/SCUM to manufacture!) there WONT be a 3rd attempt.
No one believes the 'Doom Gloom' story anymore here, its been played OUT!
Go home Media and hide under your Bed, the Bogey Man is out there and he's waiting...watching...ready to POUNCE! Boo !!
The MACD poked into positive territory, the DMI looks good, the AO is showing tentative green shoots.
The Soldiers are all solid. The ONLY bummer is that this was on the Hourly Chart so..?
I dont think it matters too much. I think soon enough we will see those Boys storming into battle on the Daily if we are REALLY LUCKY..?
If that happens...well...you may want to consider selling your kidneys to fund some smart alpha Stock picks ( ie. ASX: CVN, BIT, BD1, 4DS)
Christmas Rally confirmation TARGET remains at 6050.
I expect it will breach that early December and those Soldiers will march relentlessly onwards to higher levels as THE Special time of Year approaches.
I expect the celebration of Jesus Christ's Birth and Peace on Earth and Good Will to ALL this Year to be a wondrous Christmas to remember.