Brutus Wednesday

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



The XJO closed marginally higher on Tuesday, where spread and volume both increased (a little).
The Index made a half hearted attempt at accelerating higher soon after the open, but this move was not supported by the wider market and price quickly fell back and spent the bulk of the day hovering around the level of the previous close.
This price action again looks like potentially bullish absorption (where the buyers are potentially absorbing supply from the sellers), as price waits for a catalyst to trigger a larger move.  Keep an eye out for a mini shakeout at some stage, particularly if you are a buyer, as the probabilities increase that one will be engineered if a decent breakout (or breakdown) does not come soon.......






Good Trading and Investing