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Good Morning and Welcome to the XJO Friday Thread

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News for Today (AEST)





The XJO closed sharply lower in sympathy with overseas markets, on Thursday.
The Index closed below the low of Wednesdays Bar, leaving a potentially bearish two bar set up (which can only really be negated with another immediate reversal bar.....always possible, but pretty unlikely).  
Spread increased further, and volume (value traded) remained high (compared to the previous week or so), but actually the turnover was very slightly lower than Wednesday.  And Interestingly, I note that the 'actual volume' was much higher.....relatively.
This slightly lower volume on a widespread lower bar, infers how fragile sentiment in the market is right now, and shows how easily the Index can be taken lower.  
It appear's that a re-visit of the previous lows is most likely in order now.
And the recent price action has now allowed for the lines of an apex to be drawn.

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Good Trading and Investing

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