Coffee Time.... - Tuesday, page-4

Not Happy, Aunt Agatha.  We should have done better today.  Monday Evening.  13 July, 2015.

XJO bounced around today.  It started down, then had a great rally to finish the morning session.  Then sideways until around an hour to go - then all the way down.  XJO down -0.34%.  That's a great day for the day traders - not much else for others.

Here's the chart:


Not much to say about that.  Today's action just left the market down a bit from Friday - stuck sideways.  We need to see more than that to make any decisions about the medium term.

The announcement of an AGREEKMENT (these guys get paid mega-bucks to come up with words like that) came after our market closed.  So let's see how things progress overnight.
I'm still standing by my argument from my Weekly Report that the Australian market is likely to be much higher in 2 months than currently.  Here, again, are the reasons from the Weekly Report:
We have several signs that our market is bottoming:

1. Volatility has reached multi-year highs – an effect seen at or near the low of markets,
2. Thursday, 9 July, saw a highly unusual doji candle with a very long lower shadow – these usually only come at the end of trends.
3. The XJO bounced on Thursday off a duall support level – low of 30 June and the Super Trend Line.
4. The market has seen three rare Extreme Accumulation Days in the past two weeks.  These are usually only seen at the bottom of a strong pull-back.
5. The RVI, a leading indicator, has made a strong move to the upside since 11 June.  These usually precede changes in trend by about 3-4 Weeks.
6. Using the Monthly Chart and the Three-Line Standard Error Channel – our market is due for a strong move up.

According to my reasoning about this often randomly acting market, we'll be higher in a couple of months.
But ...  maybe the market didn't read my blog.  

RB