Nobody making a new set for the start of a new week.XJO down...

Nobody making a new set for the start of a new week.

XJO down today -0.8%.

Below is a chart for IOZ, the largest ETF tracking the XJO:

Today was a very bearish candle, but the Index remains in its neutral zone with two blue Supertrends and one Yellow Supertrend.

You can see that it has finished about in the middle of the its Value Zone. A break below 31.13 would probably see IOZ set sights on the low of its Vlue Zone.

The lower edge of its Value Zone is at 30.64. Translating that to an equivalent level in the XJO it becomes 7620 in round numbers. XJO finished at 7734 today.

There were some big moves in individual stocks today. Myer was way up, over +20% after it announced the take-over of some well-known brands from
Premier Investments (like Just Jeans and Jay Jays).

Resmed fell about -13% on news of success by Eli Lilly with trials of a new obesity drug. Resmed makes sleep apnea equipment. Sleep apnea is most prevalent in obese people. Fewer fat people - smaller market for Resmed. Remember that Resmed had a huge fall last year when Ozempic, a weight loss drug, was announced to the world. Looks like Resmed can't take a trick.

Only one Sector was up today - Industrials +0.71%. Why did Industrials rise on a day when everything else fell - I don't know. There was generally positive sentiment in quite a few of the big Industrial stocks - well - it just happened.

Worst today was the old kicking horse - Energy -1.86%. Resmed caused the Health Sector to fall -1.6%.

Dow Jones futures are up +0.21%, and Nasdaq Futures are flat +0.05%.

Maybe the Ozzie Industrials sector is taking its cues from the American Dow Jones Industrial Index.

Good luck for tomorrow - after today's big down we'll probably have a better day tomorrow.