Evaluate your Life - Thursday

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Good Morning and Welcome to the XJO Thursday thread
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News for Today (AEDST)



The XJO closed marginally higher on Wednesday, where spread narrowed considerably, volume was a touch above average, and the close was poor.   After more than a week where very little supply had been drawn out as price rose substantially, it appears the combination of the Index being a little over expended, and price meeting the (minor) potential resistance zone around the 5900 level, has seen some increased supply come in (finally).  The case could be made that price was in fact absorbing supply just below the 5900 line on Wednesday, in preparation for further gains, and that might be the case overall.  However, a (short ?) period of consolidation after the recent sharp gains is more likely, and if that occurs, the depth and duration of the consolidation process will offer some insight as to the underlying strength that remains in the market.





Good Trading and Investing