Black Cat Thursday

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Good Morning and Welcome to the XJO Thursday Thread
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News for Today (AEST)



The XJO closed higher on Wednesday, where spread and volume both increased.
The Index initially rose after the open, then came back and tested throughout the entire range of Tuesday's bar (and even slightly below it), before recovering strongly to close at the days high.  
For me the trading since mid June has been generally positive within this sideways trading range (so much so, that I have been thinking of it as a re-accumulation zone). And since mid July there has been a series of higher lows (apart from a shakeout on the 24th July which 'conveniently' tested below all of the bar's in that time). This has continued until late last week, which saw another opportunistic pullback and recovery (hmmm..terminal shakeout ??).   
Anyway, I would generally consider Wednesday's bar to be quite bullish, particularly with potentially positive trading behind it, and would suggest price is poised to accelerate higher.......but can it bust up above this sideways range which has restricted price since mid May ??......we'll see.......




Good Trading and Investing