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Good Morning and Welcome to the XJO Friday Thread
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News for Today (AEDST)
The XJO closed marginally higher on Thursday, where spread narrowed, volume reduced, and the close about midbar.
The Index initially moved higher before some reduced demand, and a little increased supply pushed it back to test this older and potentially important breakdown line (which has caused repeated difficulties in the past).
If Thursday's price action was accompanied by high volume (for instance), I would call a potential impending failure at this level again, but the volume was not too serious, so we have to take it at face value for now (more about this below).
It was Individual Equity Expiry on Thursday, however the volume did not reflect this at all. The associated volume is sometimes held over and appears in today trading......which I find really suss, especially when it coincides with a (Thanksgiving) holiday in the US (tonight), and only a half day of trading on Friday in the US (when all most some of the traders go up to their holiday houses in the Hampton's for a few days....), as this allows for some unusual local trading without an overseas lead to respond to (which can be corrected on Monday, before the US trade resumes again)......so be prepared (just in case) for some unexpected trading that 'miraculously' recovers on or by Monday........not saying it will happen, but the door is open should the opportunity present and the market be willing.
Good Trading and Investing
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