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ASX 200 prediction

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beemer

Joined
8 July 2018
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Hi Everyone, anyone got an opinion, analysis for the asx 200 tommorrow?
 
4 shorts, it kept getting knocked back around 6195 for last couple weeks so I was expecting a downward retrace soon. Fridays rally up left me hanging on by the skin of my teeth.
 
I reckon it will open around 6270, but watch the es open for clues. It should close the gap by days end though.
 
beemer said:
4 shorts, it kept getting knocked back around 6195 for last couple weeks so I was expecting a downward retrace soon. Fridays rally up left me hanging on by the skin of my teeth.
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I've got no dog in this hunt, but the US market did rally Friday so a modest rise is probably on the cards. You never know though. Anything can happen and probably will.
 
I say 6400. Trade war came and gone, nothing here to slow the market now.
 
gaius said:
I say 6400. Trade war came and gone, nothing here to slow the market now.
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I was thinking about this last night. What about this friction between Nth Korea and Trump Admin. Little bearing on Market you think?
 
Darc Knight said:
I was thinking about this last night. What about this friction between Nth Korea and Trump Admin. Little bearing on Market you think?
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I say there's nothing new about North Korea and Trump, everyone expected this.
 
beemer said:
Hi Everyone, anyone got an opinion, analysis for the asx 200 tommorrow?
Click to expand...

Poor auction results over the weekend will weight down the banks and the ASX 200 index.
 
Only added 10~ points, how disappointing. But hey, what's the hurry? There wouldn't be any significant fall and there is always tomorrow.
 
You still with us @beemer ?

Market kept rising today. Should continue tomorrow unless something changes???
 
Shame,

Only had to hold out for two extra days … it appears the slide is underway !
 
cutz said:
Shame,

Only had to hold out for two extra days … it appears the slide is underway !
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Hi Beemer,

You did the right thing cutting your losses. You had your stop loss and you stuck to it.
If you had held on for a few more days you would have rewarded a bad trade precedent and set yourself up for a catastrophic account draw down at some future time.

Personally, I think the asx 200 chart looks very bullish at the current time and you would be swimming against momentum trying to short it. A base seems to be forming at around 6000, and unless ~5940 is broken the direction seems to be up. Instead, a good option, could be loading up long on decent pullbacks.

The obvious play is shorting at this point, as historically this is a major resistance level, however, once this level is strongly broken through, who knows how far it can go up?

I remember when the Dow Jones was sitting at around 12000-13000 points for quite a while, and many market pundits were stating the market was overpriced and it was going to go down!
 
Darc Knight said:
I was thinking about this last night. What about this friction between Nth Korea and Trump Admin. Little bearing on Market you think?
Click to expand...
Trade with North Korea = Zero so short of A Bombs there is no Down side to failure and only upside if there is a win (more than zero trade). And even a win is unimportant as the entire economy of N Korea = 2/5th of F.. all
 
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