XJO down modestly today -0.35%.
Nothing dramatic happened in the chart. The XJO continues to hug the 20-Day EMA which is trending gently to the upside.
The only drama in today’s action occurred in Telecoms +1.7%. That means, of course, that Telstra had a good day. TLS up +1.81% after announcing a re-organisation of its top level executives. Media pundits didn’t like the announcement, but what do they know? The market liked it. Here’s the TLS chart:
That takes TLS back to the 50-Day EMA which has been resistance now for some months. A decisive break above that should see a move up to test the 200-Day EMA.
Energy and Consumer Staples were more or less flat today, some other sectors suffered significant losses.
Gold Miners were down a little but showed plenty of intra-day buying. XGD is looking solid:
After the poor action in overseas markets on Friday, we can expect some sort of positive action tonight.
But Friday did technical damage which I doubt will be repaired tonight.
RB
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Last
8,214.5 |
Change
-8.500(0.10%) |
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Open | High | Low |
8,223.0 | 8,228.3 | 8,200.0 |
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