A Great Depression...... - Tuesday

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Good Morning and Welcome to the XJO Tuesday Thread

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News for Today (AEST)





The XJO briefly moved lower soon after the open, but appeared to find little supply as it came off.
This lack of supply then allowed the Index to turn itself around, and eventually close higher on Monday.  
Spread narrowed, and volume (value traded) reduced, although the volume was actually quite reasonable for a Monday.  
The previous pivot above the current price @5530.9 is likely to offer some resistance if price reaches it, and together with the line above that @5550.3, almost form a zone of resistance, which may be difficult to cross without some reasonable volume to push it.
All in all it wasn't a particularly strong turn around, so it could go either way today.
The bulls would be suggesting the Index was strong enough to put the brakes on the slide lower, and the good volume was absorbing any supply coming in.  And I can hear the bears touting an upbar that made little ground higher on decent volume for a Monday, which suggests it was encountering supply.  Should make for an interesting Tuesday.

Spoiler : ***** Slightly Risque'.....*****

Good Trading and Investing

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