Monday Evening Liqueurs. 31 October, 2016.
XJO up solidly today +0.64%. Volume was well above average - that might have been affected by end of month book squaring.
Today's solid up move came at the 200-Day MA. That's a scenario I've been sketching out for some days.
Today's action was a good start for a counter-trend upside move.
I still can't see any reason to think that this upside trend will be short lived and will be sold into.
Today showed some odd discrepancies from a solid start to an upside move.
Yes - it's a bit odd. Maybe it means something - maybe not. But these negative values fit with my scenario that there's not a lot in this rebound. I'll be happy to be proven wrong.
- Breadth was neutral. Adv/Dec Ratio was 50.9%. Marginally positive.
- VIX went up +6.5% while the XJO went up +0.64%. A rising VIX on a rising stock market is an anomaly.
I'm expecting this rally to have more legs, before failing.
RB.
Monday Evening Liqueurs. 31 October, 2016. XJO up solidly today...
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Last
7,971.1 |
Change
105.600(1.34%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,865.5 | 7,976.9 | 7,865.5 |
| XJO (ASX) Chart |