amhtet's contagion containment wednesday, page-25

XJO (ASX200) -0.8%
XTL (Twenty Leaders) -0.9%
XFL (Fifty Leaders) -0.8%
XFJ (Financials) -1%
XMJ (Materials) -0.9%
Energy -0.4%
XSO (Small Ordinaries) -0.7%

Today?s move almost reversed yesterday?s up move. You can see in the chart above that today?s candle (like yesterday?s) sits neatly between two strong support and resistance lines and just inside the previous day?s range. Volume was a bit light on for a Wednesday ? indicative of a trading range, and not much more than that. Today resolved nothing.

INDICATORS:

RSI.9: 48.9. Below the mid-line. Negative.
MACD Histogram above Zero. Positive.
MACD marginally above the Zero line. Neutral.
Stochastic: 48. Below its signal line. Negative.
CCI.14: +19.2. Remains above its mid-line. Positive.

The Indicators pose a slightly negative picture, but indicators can be deceptive when the market is in a trading range.

Other than very short term traders, this is a case of wait and see.

Good luck