February is Hot Breakfast Month

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Good Morning and Welcome to the XJO Thursday Thread
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The XJO did not see any downside follow through in response to Tuesday's widespread downbar.
The market initially sliced lower in sympathy with overseas markets, and things looked a bit grim.....however the Index eventually gathered itself up & closed as an upbar on quite strong volume.  
Tuesday's bar inferred weakness, and this potential weakness may still be felt in the future (if so, maybe during the coming results season).
That said, the Index has shown itself to be reluctant to come off for some time now (there is certainly no ease of downward movement).
And there is little doubt there was a pretty good attempt to support the market on Wednesday (and the high'ish volume looks better than just 'speculative' support at this stage).
I have said it a few times lately, and I still think 'roughly sideways' is the most likely direction in the near term.





Good Trading and Investing