Goof Off Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread
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News for Today (AEDST)



The XJO closed lower on Tuesday, where spread narrowed, but volume increased to about average.
Once again price dipped lower from the open, but never looked in danger of breaking down.
Tuesday's bar would normally see a decent response towards the upside, however in this sideways malaise, I am not so sure.
While there appears to be very little selling pressure at this point in time, there is certainly not much demand either.
So this sideways action looks like it will continue until there is a catalyst strong enough to move the markets, one way the other........
I still feel the chart is poised to move (or perhaps grind) higher, however if the catalyst were for a move to the downside I would anticipate a spectacular downbar, as accumulated positions are quickly dumped.





Good Trading and Investing