After 2 shooting star candles last Thursday and Friday the price action on Monday was a bit surprising being an up day closing near the day high. Today provided the candle that could easily have occurred on Monday. Today a large range candle closing at the day low is a reasonably strong indication that the next move is downwards. NAB doing poorly trading ex dividend didn't help the index. Next we have WBC trading ex dividend on Thursday which will also be a drag on the XJO. Selling the financials is likely to continue so I believe we have already seen a medium term top.
Belly Button Fluff Wednesday, page-4
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Last
7,861.2 |
Change
-102.500(1.29%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,963.7 | 7,963.7 | 7,861.2 |
| XJO (ASX) Chart |