Inconvenience Yourself Wednesday, page-2

XJO finished up today +0.24%



XJO was up strongly in early trading, but fell away in the last hour to finish up modestly.

The index is now into the Congestion Zone on the left of the chart.  So its not unexpected that the index will struggle at these levels.  Plus, I noted yesterday that hedging was occurring by some of the big players.
This doesn’t mean we’ve reached the top of this run.  But it could be heavy going for a few days.

Indicators are not overbought.

Expect a bit of to-and-fro action here, until we reach upside resistance.

I doubt this scenario, but it is possible that we’ve reached the end of the line.  So factor that into decisions.

RB