Chocolate Cupcake Tuesday

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Good Morning and Welcome to the XJO Tuesday Thread

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News for Today (AEDST)




The XJO closed lower on Monday, where spread increased, volume was high for a Monday (although just under average overall), and the close was at the day's low.   After standing aside on Friday, it appears our local traders did not like the price action overseas on Friday night, and in response the seller's (finally) came out and reduced some exposure.  This increased selling pressure overcame any residual demand, and carried Index down to close clearly below both trigger lines.  So barring a complete reversal today (which is quite possible, but is fairly unlikely), the higher probabilities now appear to lie with the downside in the near term.  
The next lower level of interest is the purple breakdown line @5361.7 which has not previously been properly tested before, so the strength of any support there is unknown or questionable.  Below that is the red minor breakout line @5306.1, then the mid September lows.






Good Trading and Investing

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Spoiler : ***Warning - Saucy Cartoon***