[ATTACH]...

---------------------------------------------------------------------------------------------------------------------------------------------------
Good Morning and Welcome to the XJO Friday Thread

---------------------------------------------------------------------------------------------------------------------------------------------------


News for Today (AEST)




The XJO closed higher on Thursday
Spread narrowed slightly, volume was increased, and was above average - although it was Index expiry day (which normally has a less strong effect than Individual Equity expiry...which is next week) , and the close was off the day's high, almost at midbar.
The Index pushed up through the remaining levels of potential resistance fairly quickly on Thursday, then spent the rest of the day making an attempt to consolidate the recent gains.  The reduced spread and midbar close suggest supply may be present (something that has been absent for a while), so some sideways testing, to determine the quality of this rally, would not surprise.  
For the Index to breakdown now, & change to a downtrend, price would need to close below the low of Wednesday's upbar @ 5439.8 (which had increased spread and volume, as it pushed strongly to challenge the resistance zone).





Good Trading and Investing

.

Spoiler : ***Warning - Saucy Cartoon***