Thursday Evening Thoughts. 14 Sept. 2017. XJO was flat today...

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    Thursday Evening Thoughts. 14 Sept. 2017.
    XJO was flat today -0.1%.



    Today we had seven out of eleven sectors on the negative side.

    Financial Sector (XXJ) kept the XJO from sinking:



    XXJ up +0.43%. Momentum seems to be slowing as XXJ hits overhead resistance.

    XMJ has been the other significant support for our market. XMJ down today-0.88%. Today’s candle is a bearish engulfing candle:



    At this stage, XMJ is in no more than a consolidation phase. But more downside could be seen on Friday.

    Today’s action was a picture of indecisiveness. The day ended with a narrow range day, more or less in a symmetrical triangle. Breaks of the early highs/lows of today could be decisive tomorrow.

 
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