All Ords Illustration
All Ords Illustration
Attached is a chart of the All Ordinaries Index from the start of July
onwards. Of note is how it double topped at 3293 on the 12 July & 21 July
and the low point in between was on the 19 July at 3244. Many of you would
know from our Advanced Class that you can calculate potential tergets of
double tops and bottoms. It is simply 200% of the previous range up or down.
So in this example the range was 49 points (3293 - 3244). So target is set
at 3195 (3293 - 49 x 2). As you can see it looks like it has bottomed now at
3192 on 31 July. To add to this however notice the dates it bottomed ie. 19
July (90 degrees from 17 April bottom) and 31 July, falling into line with
some dates of the index from last year (for your investigation !!!!)
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