Garfield the Cat Tuesday, page-2

XJO up today +0.17%.  That’s not a bad result after Friday’s "Whooshka" day.



The short-term trend channel remains up.  Indicators are tilting to the upside.  Stay with the trend.

The biggest sector in the OZ market is the Financials (XXJ).  That sector continued up strongly today:



XXJ up today +0.84%.  The big test for the XXJ will occur at the 50-Day EMA.  That’s not far away.

The big downer on our market today was Materials (XMJ) -1.22%:



XMJ is testing short-term support.  A break below that would be negative for the XMJ.

That may not be enough to outweigh movements in the XXJ.  They often move inverse to each other.  While the XXJ remains strong, out market should continue on the upside.

Expect consolidation tomorrow.  Then we’ll see how things progress.  At the moment, the trend is up – stay with the trend.

RB