monday

Morning all,

Hope all had a good weekend. XJO daily and weekly charts attached.

Daily is showing a small peak at the down trend and the long term XJO up trend. Looking at the Stoch's this has the potential to be the start of a move that will break out of the expanding wedge but looking at the weekly chart shows we could have our bottom. Volt and co.'s cycle dates suggested easter was a low and the weekly is doing a good job backing up that argument imo.

If we don't break out of the wedge in this move then we could get a nice up move to around the 6000 mark but not before we have taken care of the XJO long term trend and the current down trend. I think watching for the weekly break of the down trend will be enough to rally.

I'm still interested in some more input on the setups thread so if you have an original setup for trading please take the time to post. Pics might be helpful too.