Bad News - Tuesday, page-3

Thanks Jako

Maybe you should have call the thread "rho, rho, rho your boat Tuesday".

Finviz has changed their look and feel....some of you might be interested.

FinViz Futures


Yearly Highs and Lows

Longer term, the market breadth is still dropping , but this might be challenged tomorrow.

Candles

A doji today (there's probably a fancier name for it out there somewhere). After the last three red candles this seems to signify (again) that the trend will change - either go sideways or head upwards again. I'm wary of calling 3 red candles a down trend. Perhaps it is, perhaps it's just noise. The significant part for the last few days is that it's happened at a lower level that the last low.




Relative Strength by Size

More activity in the smaller end yet again. All the size based indices were up except the XTL (S&P/ASX Top 20), which is heavily influence by banks.




Relative Strength by Sector

The complexion of this is somewhat skewed by the negative performance in the banks, and it makes it harder to interpret.




Conclusion

Ultimately the XJO is still in an extended trading range -- albeit at the lower end.
The market breadth is still low, but rising and there is interest in the speculative and midcap end of the market - and this has been a feature for the last few sessions with the smaller end risk being accepted by the market. Materials continuing to create the upward impetus.

From a trading perspective, I suppose all you can do at this point is work out the possible scenarios, and avoid being a bunny in the headlights when the range is broken.

Keep an open mind...like a blank slate....



See you at the interest rates....