XJO finished well up today after lower than expected inflation figures came out at 11.30 a.m. XJO finished up +0.85%.
XJO broke above an important horizontal resistance level today where it has failed on several recent attempts.
NewHighs-NewLows Cumulative.
This chart remains above its 10-Day MA. This is a good guide for medium to long term investors.
Looking at the tea leaves suggests this move to the upside may not have too far to go.A negative divergence is forming on the NH/(NH+NL), That's had a good record of predicting changes in trend.
XJO/IAF is shown in the lower panel. IAF is the ETF for Composite Government Bonds.
A divergence in XJO/IAF often precedes a change in the XJO. Currently there's a negative divergence on XJO/IAF. Watch for a fall in the XJO.
24/07 Indices, page-62
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Last
7,750.7 |
Change
-16.800(0.22%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,767.5 | 7,767.5 | 7,710.3 |
| XJO (ASX) Chart |