head winds - thursday, page-29

Above is a Candle Stick Chart for the XJO.

50 Leaders -0.1%
XJO -0.1%
Materials +0.5%
Financials x-Property +0.3%
Small Ordinaries -0.0%
Health -2.1%

Comment: Today was index options expiry day. Consequently, volume was high. Range today was narrow. Nothing remarkable. (Although AMP, which reported, did have a nice surge. It’s been the worst performing stock in the Financials in recent months. So its bear market could be over.)

Technical Comment on the XJO (closed at 5152.4):
Horizontal Support: 5117.18
40-Day Moving Average: 4970.2.

Indicators

RSI9: 68.3. Down marginally from the overbought level.
MACD Histogram. Marginally above zero. Neutral.
MACD: Above zero. Positive.
Stochastic: 93.8. Overbought.
CCI.14: +126.5. overbought.

Today, except for some special interest stocks, saw nothing significant change from yesterday. That’s fairly normal on an options expiry day. Let’s see how tomorrow goes.



Redbacka