Bathtub Party Tuesday

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Good Morning and Welcome to the XJO Tuesday Thread
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News for today (AEDST)



The XJO closed marginally lower on Monday, where spread was quite narrow, and volume was pretty high for a Monday
It appeared price was in consolidation mode all day, as price fluctuated just above and below the previous close.
I note that the last two bars have traded inside the previous bar, and both are inside last Thursday's bar, this usually suggests some indecision within the market, or a possible lack of conviction - however i'll stick with the consolidation/absorption theory for now.
Volume was quite a bit higher than a regular Monday trading day - I will consider this as a (potential) positive at this stage, as I expect if it was a negative, price would not have held up so well (confirmation should be seen in the price action over the next couple of bars).






Good Trading and Investing