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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEDST)





The XJO closed slightly higher again on Tuesday, after being much higher soon after the open.
Spread was about average, volume was very low again, and the day's close was poor.
The early sentiment was to move higher in response to the two previous bars, however there was just not enough volume behind the move to sustain the higher prices, and the Index fell back and maintained its position around the previous close.
This type of bar can suggest weakness, inferring that selling pressure has moved into the market, although in this case, with the very low volume this is does not seem likely.   
To my mind we may just continue to move 'generally sideways' within the overall trading range, unless something surprising happens overseas, and we move along with it, in sympathy.  
There has now been four closes within a range of 15 points, which often suggests absorption of supply, but unless the Index can find some decent volume, this may only be an interesting artifact.

Spoiler : ****Lingerie Humour ****

Good Trading and Investing

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