Tuesday Evening Liqueurs. 26 July, 2016. XJO up today +0.07%....

Tuesday Evening Liqueurs. 26 July, 2016.

XJO up today +0.07%. The index was in negative territory most of the day but a late surge after 3.00 p.m. got the bulls into positive territory.

Here's a Heiken-Ashi Chart for the XJO:



There is still no sign on this chart that a reversal is likely to occur. The chart is at resistance, but we need to see at least a spinning candle on the H-A Chart to suggest we can expect a reversal.

Indicators, however, are stretched to the upside, or, in fact, starting to descent. (See the CCI).

It's difficult to see that there is much more in this up-trend. I certainly wouldn't be buying into this at this stage. Wait for a better buying opportunity after the index falls.

RB.