Good Morning and Welcome to the XJO Friday ThreadNews for Today,...

Good Morning and Welcome to the XJO Friday Thread

News for Today, and the Weekend (AEDST)

Yesterday the XJO rose early in the session, only to fall back to close flat (again) at the close.
Volume (value traded) was higher (a little higher than average).
The battle between sectors continues.
We now have a number of bars which do not look particularly bullish (in isolation they all look weak),
however it continues to show resilience and appears reluctant to fall over at this point in time.

Interestingly my Big Four Banks Index (Equal Price Weighted) again remained above the previous days close all day, although it again closed low on the bar, on lower daily volume.
So while the last two bars do not look particularly strong, until supply comes in to knock it over, absorption of supply from the left needs to be considered.

Good Trading and Investing

cheers