XJO 0.25% 7,737.6 s&p/asx 200

XJO was up modestly today +0.23%. [IMG] That bit of a bump did...

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    XJO was up modestly today +0.23%.



    That bit of a bump did nothing for trends.  Short and intermediate trends remain sideways.  The primary trend is up.  Wait.

    The big news today was focussed on CBA – the largest stock in the XJO:



    CBA announced a fall in earnings, but that has been well anticipated by the market, so the stock rebounded +2.63%.

    It still needs to get above the 200-Day EMA to prove its bullish credentials.  Today’s action suggests that a break above the 200-Day EMA is a real probability.  Let’s wait and see if it happens.

    The other big news in today’s companies reporting was Tabcorp Holdings:



    TAH surged +7.56% and broke above short-term resistance.  More upside seems likely.

    AMP also reported.  It rose +3.88%.  But it is so far below its 200-DEMA – I’d give it a miss. Leave it to the day-traders.

 
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