Its all about Perspective.... - Tuesday, page-39

XJO up +1.41% on heavy volume.



It looks good. The rises were across the board, with the only weak sector Consumer Staples where Woolies continues to be a drag.



I would have preferred today to be on lighter volume than this. I’m just a tad suspicious that the heavy volume is masking a lot of continued selling. That gets some confirmation from the Advance/Decline data. A/D Ratio was a mere 52% which, although positive, is very weak for a day when the XJO was up +1.41%. Nearly half the stocks on the ASX went down. So the big positive number hides selling in a lot of smaller stocks. Breadth is not confirming the big rise today.

I wouldn’t be surprised to see the market give back a fair chunk of today’s gains tomorrow.
Redbacka