steppin up for ceb tuesday, page-24

In Australia:

Twenty Leaders -0.5%
50 Leaders -0.6 %
XJO -0.6%
Small Ordinaries -0.7%
Financials -0.5%
Materials -0.4%

Comment: Today was down moderately, on very low volume (about 70% of the 20-Day average). That’s not cut-your-wrists stuff.

Defensives didn’t do well today, so there’s some optimism out there. Volume may have been impacted by the long week-end – but it does look far too low. Not much conviction in the selling.

Technical Comment on the ASX200:

The XJO finished at 4292.1. Below important S/R line at 4310. That now reverts to resistance.
Indicators:
Stochastic: 55.2. Below its signal line. Negative.
RSI.9 is at 46.7. Negative.
MACD Histogram. Below Zero. Negative.
MACD. Marginally above Zero. Neutral.
CCI.14: -20.1. Below Zero. Negative

The Index has bounced off the 30-Day EMA the last two days. Today was the third day down in a row. So we might see a test of resistance tomorrow. If we finish above the 4310 line tomorrow, then the BTD Mob are back in business.

Let’s see what tomorrow brings.

Redbacka