Bartender Friday

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Good Morning and Welcome to the XJO Friday Thread
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News for Today (AEDST)



The XJO closed lower on Thursday, where spread increased, and volume remained above average (but may have been affected by individual equity expiry day).  Price dipped lower soon after the open, testing the strength of demand, and challenging any sellers to take the upper hand.
However as the day moved on, there was somewhat of a recovery and the close was about midbar......which was a bit indecisive or noncommittal (as price could still go either way here).  Originally I expected price to move sideways in a range for a period to consolidate the recent gains, but I expected the range to be 100 points or a little more.   However, there has been very little downside follow through in response to any of these potentially weak, narrow spread bars, and the sideways range is very narrow (and volumes quite high).   So until there is something more serious arrive, or price actually breaks down with some intent, i'll sit in the 'potentially' bullish camp, and consider Thursday's bar as a mini shakeout of the range.  (and these narrow spread bars on high volumes still suggest a larger move is in the offing....one way or the other....)





Good Trading and Investing