We all know that past performance doesn’t guarantee future performance but it may provide some idea as to what may be likely to happen in our market.
Every candle with a BLUE ARROW is the month of OCTOBER since 2009. Except in 2009 where XAO closed approx. 2% lower than it opened, every other OCTOBER until last year (2014) closed higher than it opened. For SEPTEMBER check the candle before for some clues. If the history is to repeat itself in a positive way one more time, next month we should expect to see our market close higher than it opens . Question is, will it ?
But in any case we may be in a period like October 2011 – October 2012 where XAO had been range bound for a year or so before it resumed it’s next leg up ( see highlighted zone with Yellow).
Chart is courtesy of StockCharts.com
I will be taking a short holiday during school holidays travelling overseas. Therefore I won’t be making any posts after the 11th until the first weekend in October.
Please keep safe and well in the meantime.
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Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration. The information on this website is no substitute for financial advice.