xjo hctv presents early opener monday, page-44

A great opener today, Stuey. I gave you a TU.

In Australia:

XJO -0.4%
Twenty Leaders -0.5%
50 Leaders -0.4%
Financials -0.5%
Materials -0.2%
Small Ordinaries -0.3%

Comment: The XJO today reversed the modest gains made on Friday. Volume was moderate.

Technical Comment on the ASX200:

The XJO finished at 4272.7. Sitting above the 15-Day MA and marginally above the 150-Day Moving Average.
Indicators:
Stochastic: 89.2. Overbought. Caution
RSI.9 is at 64.2. At a level where reversals often occur.
MACD Histogram. Marginally below Zero. Neutral. Negative divergence.
Caution.
MACD. Above Zero. Positive.
CCI.14: +118.9. Overbought. Caution.

The indicators are flashing plenty of amber warning signs.

The market appears to be topping. We still need a solid down day to confirm. If it is topping, any pull back could find support nearby.

The short term trend is up.

Respect the trend.

"Life is intrinsically, well, boring and dangerous at the same time. At any given moment the floor may open up. Of course, it almost never does; that's what makes it so boring.” Edward Gorey.

I think the floor may open up.

Redbacka