Each morning the XJO gaps up or down to reflect the overnight overseas market action. Recent flipflops and big opening gaps are making the XJO look like a square wave.
Although this is a symptom of a strong support base for markets, it is also a symptom of a strong resistance ceiling and also a symptom of volatility.
Maybe ideal conditions for swing trading, but sooner or later markets will move in the same direction for more than one day. When this happens will it signal the start of a major run up or down?
17/10 Indices, page-41
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Last
8,198.2 |
Change
-10.700(0.13%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,208.9 | 8,214.9 | 8,176.8 |
| XJO (ASX) Chart |