XJO was flat today, down -0.16%.
Today’s action takes the chart clearly below horizontal resistance and the 20-Day MA. That may cause problems for any rebound.
Some sort of rebound seems likely given the oversold RSI(5).
While the short-term trend channel remains down – stay with the trend.
Any rallies are probably an opportunity to sell out of the market.
The only sectors showing strength today were defensives:
That’s impressive – unless you’re bullish on risk assets.
- Utilities +1.2%,
- Telecoms +1.3%,
- Property Trusts +1.7%.
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Last
8,214.5 |
Change
-8.500(0.10%) |
Mkt cap ! n/a |
Open | High | Low |
8,223.0 | 8,228.3 | 8,200.0 |
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