weak movement: no momentum

I know everyone likes to post on the XJO, but I'm different. It IS the index you know! I couldn't care less if the fundies use it, XAO is my index.

Now, the chart shows lack of momentum. There is no weight or conviction to XAO's movements in the last 2 weeks or so. Solid directional movement ended on 29th June - check your charts. Since then it's been wavering in the breeze. So a bear market isn't about to emerge just yet - not enough impetus. Now we need to look for a catalyst; a major geological-religious-economic-political event to give the market direction. Insipid right now. I'm waiting out till that time comes. I hope it's a positive event.