Pearl Harbor Remembrance Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEDST)



The XJO closed higher on Tuesday, where spread remained wider than average, volume increased to above average, and the close was just above mid bar.  The Index did not see any downside follow through after appearing to breakdown on Monday, and did not confirm a price breakdown....(yet ??)
Instead price made a serious attempt to reverse on decent volume, this would have appeared bullish if the close was above the previous high, and it did at one stage trade higher than the previous high. However with the close being nearer to midbar suggests that further supply (selling) was drawn out, although the position of the close being above the breakdown line is a positive of some sort.
This leaves the last five bars somewhat ambiguous now, there is potential strength in the background no doubt, but with the most recent trading suggesting some buying/demand/support on one hand, and on the other hand some selling/supply/resistance, all quite close together.  This questionable trading probably reflects the uncertainty in the markets, particularly the overseas markets, and I expect will become more clear pretty soon.







Good Trading and Investing
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