I Tweeted last week wondering if the XJO, the Aussie-200 index, would bounce up from a support trend line and, whilst it as put in a bounce since then, I’m keenly watching the trend lines for any breakout. In this post I take a look at the charts of this index and, also, of some Aussie stocks that are trading within technical patterns and that I think are worth watching for their own trend line breakout.

XJO daily: this is how the XJO chart appeared in my Tweet last week:

This is how the daily chart is looking today. I’m on the lookout for any trend line breakout that evolves with increased ADX momentum and the appropriate uptick in either + or – DMI momentum:

XJO weekly: the weekly chart shows last week’s bearish candle but a general lack of ADX momentum. Thus, I’m watching these trend lines and the ADX with any breakout move; bearish or bullish:

XJO monthly: the monthly chart still shows a rising trend line and, whilst higher HIGHs haven’t been printed for a while, we don’t really have any significant lower LOWS being printed either. That is, lower than the 2013 LOWs and hence the continued trend line support.

The consolidation-style activity on the Aussie XJO charts matches what I’m seeing across with the US major stock indices and I charted these in a post over the w/e. Here is how the weekly charts of the US majors are looking:

S&P500 weekly: The index closed with a bearish candle and just below the Bull Flag’s upper trend line. Not much ADX momentum in play on the weekly chart:

NASDAQ weekly: Range bound and with little ADX momentum. It’s not much of a surprise but momentum is actually declining

DJIA weekly: ditto here with declining momentum.

Russell 2000 Index: this small caps index is considered a US market ‘bellwether’ but, like the other majors, remains range bound for now and with little momentum. 

I also think its worth noting two of the high profile US stocks that are also in range bound patterns. That of Apple and Netfix:

NFLX weekly: range-bound with little momentum.

AAPL weekly: also range-bound with little and declining momentum.

Some Aussie stocks worth keeping an eye on: there are a few Aussie stocks that are also in range-bound style patterns that I think are worth watching for any trend line breakout; bullish or bearish. My suggestion is to watch these and the major stock indices for any trend line breakout that is supported by an uptick in the appropriate DMI momentum.

ANZ weekly: has been under pressure but bearish momentum is waning. Watch for any trend line breakout with increasing aligned momentum:

Blackmores: BKL weekly: ditto here; Watch for any trend line breakout with increasing aligned momentum:

CBA weekly: bearish momentum in play BUT watch for any Flag trend line support:

Collins Foods: CFK weekly: watch for any trend line breakout with aligned momentum here too:

Macquarie Group: MQG weekly: watch for any trend line breakout with aligned momentum here too:

QANTAS: QAN weekly: watch for any trend line breakout here; up or down!

St Barbara: SBM weekly: we’ve already had the bullish breakout:

Seek: SEK weekly: watch for any trend line breakout here; up or down:

Telstra: TLS monthly: we got the 61.8% fib pullback but now watch for any Flag breakout; up or down, that is aligned with an increase in appropriate momentum:

Westpac: WBC weekly: watch for any trend line breakout with a supporting momentum shift: