High Pressure - Friday

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Good Morning and Welcome to the XJO Friday Thread

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News for Today (AEST)





The XJO closed lower on Thursday, after being much higher soon after the open.
Spread increased substantially, but volume (value traded) reduced to below average, and the close was low,
which interestingly, was pretty close to the opposite of Wednesday's potentially strong bar.
On an individual basis Thursdays bar looks terribly weak, and suggests the near term outlook may be poor,
however this is only the case if price does indeed follow through to the downside, and the Index begins to accelerate lower.
So while the price action looks quite poor, there is something I just don't trust about it, perhaps it is the combination of below average volume, and that the close on Thursday didn't not breech Wednesdays low.  And I would also like to see a clear and definitive break of 5039.6 as well, as price still remains close to this danger point, and hasn't failed there yet.  There are still a few if's and but's in it for me, at this stage......

Spoiler : *****Warning - Shrinkage Issues Humour - Please don't click if this may offend you *****

Good Trading and Investing

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