dangerous - thursday

Good Morning and Welcome to the XJO Thursday Thread

News for Today (AEDST)

Interestingly the XJO continues to look strong, putting in the seventh consecutive potentially strong bar yesterday, even when in the shadow of the U.S. debt ceiling concerns.
How it reacts if/when it reaches that previously weak narrow spread bar around 5300 will most likely give an indication of future direction.

The XMJ was one of the strongest sectors yesterday & finds itself in an interesting position now, as it is back up to where the recent breakdown occured.
Potential strength or weakness in the sector will most likely be seen here.
Spread narrowed considerably yesterday, however volume/value was a little higher which suggests a little potential weakness or at least represents some tougher going in the short term.

Good Trading and Investing

cheers