Thursday Evening Thoughts. 14 Sept. 2017.
XJO was flat today -0.1%.
Today we had seven out of eleven sectors on the negative side.
Financial Sector (XXJ) kept the XJO from sinking:
XXJ up +0.43%. Momentum seems to be slowing as XXJ hits overhead resistance.
XMJ has been the other significant support for our market. XMJ down today-0.88%. Today’s candle is a bearish engulfing candle:
At this stage, XMJ is in no more than a consolidation phase. But more downside could be seen on Friday.
Today’s action was a picture of indecisiveness. The day ended with a narrow range day, more or less in a symmetrical triangle. Breaks of the early highs/lows of today could be decisive tomorrow.
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Last
8,597.7 |
Change
56.600(0.66%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,541.1 | 8,613.0 | 8,536.7 |
| XJO (ASX) Chart |