Cost Cutting - Friday

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Good Morning and Welcome to the XJO Friday Thread

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News for Today (AEST)





The XJO continued to push higher on Thursday, and moved through the potential resistance lines with ease.  This suggests that there was buying at the recent lows, and that Wednesday's higher volume was absorbing supply, which in turn allowed price to move higher quite easily on Thursday.
Spread reduced a little, and volume fell to a bit below average, which is actually quite good coming off a bottom reversal, if that indeed is what it was. I also like the close above the high of Tuesday's bar, even if it was done in an unorthodox two bars (Wednesday and Thursday).
So it appears a possible bearish event has been averted, and the sideways trading range (roughly 5039.6 >> 5303.1) will continue for a bit longer.....  (I couldn't get too exited about the serious upside until the Index took out 5303.1, preferably following a re-test from above)

Spoiler : ***** Warning - Anatomy Humour *****

Good Trading and Investing

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Don't forget - I will be away all of next week, please consider doing a cranker to help out redbacka.....
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PS- I will do a "Weekend Charting and Chat - October" later tonight, can someone 'bump' it for me tomorrow night....thanks