Tell a Story Friday

Good Morning and Welcome to the XJO Friday Thread


The XJO closed lower on Thursday, where volume was very high - but affected by option expiry.
Effectively the Index came down to test the strength of the higher breakdown line from above, which is not particularly unusual occurrence, and then spent the remainder of the day in consolidation mode.
The fact price only came back to the midpoint of last Wednesday's potential breakout bar (which is a surprisingly shallow pullback and test of supply), and if it turns out that the testing process is pretty much complete, it suggests underlying strength in itself.........mind you, there are a few 'ifs' in there, so we'll see.........
Overall price has appeared to be grinding higher as part of the bullish absorption process (for some time now), and is making an initial challenge to two previous breakdown lines that are quite close together.






Good Trading and Investing






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