XJO was flat today +0.03% after falling early in trading.
XJO is in a strong uptrend but is overbought (RSI at 78.9) - so be prepared for a pull-back.
The Bollinger Bands on the short-term Stochastic have tightened - so expect an expansion to the downside in the near future.
Here's the Trend Matrix:
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 0 Index V.Short Term Short Term Medium Term Intermediate Term Long Term 1 XJO long Long Long Long Flat 2 XTL Long Long Long Long Flat 3 XMD Long Long Long Long Long 4 XSO Long Long Long Long Long 5 6 XMJ Long Long Long Long Long 7 XEJ Long Long Long Long Long 8 XXJ Long Flat Long Long Flat 9 XNJ Long Long Long Long Long 10 XDJ Long Long Long Long Flat 11 XHJ Long Long Long Long Long 12 XPJ Long Long Long Long Short 13 XUJ Long Long Long Flat Short 14 XSJ Long Long Long Long Long 15 XTJ Short Flat Flat Short Short 16 XIJ Long Long Long Long Long 17 XGD Long Long Flat Long Flat
This isn't showing anything unexpected. Continue to avoid the Telecoms. Otherwise there's nothing much to fear in this Matrix.
The big news today concerned the quarterly report from CBA. CBA up +2.65%. Other bank reports were received negatively but CBA proved otherwise.
It must be remembered that CBA represents about ~10% of the Australian market - so any significant move in CBA is significant for the broad market.
CBA has broken above horizontal resistance and above the 200-Day MA. Those are bullish events.
Today's market was held back by poor performances by Miners -0.73% and Energy -0.59%.
Ain't it always the way - Financials up, Commodities down? No - not necessarily - but it happens often in the Australian market.
Get the three of them aligned - and you have bullish conditions.
The A.VIX remains in a condition where the Bollinger Bands have tightened up. Such tightening suggests a return to volatile conditions in the near future. That usually means a move to the downside.
![]()
- Forums
- ASX - By Stock
- XJO
- Chaos Never Dies......Thursday
Chaos Never Dies......Thursday, page-3
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
8,080.7 |
Change
56.800(0.71%) |
Mkt cap ! n/a |
Open | High | Low |
8,023.9 | 8,086.7 | 8,023.9 |
Featured News
XJO (ASX) Chart |