Loomis Tuesday

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Good Morning and Welcome to the XJO Tuesday Thread
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News for Today (AEST)



The XJO closed sharply lower on Monday, where spread was wide, and volume was below average (but was OK for a Monday).
The Index has almost pushed down to the previous lows now.  The price action closed at the day's low, which infers weakness, and also leaves a poor 'gut feel' in the market participants.  There was very little demand in the market, and it was this lack of demand which allowed the below average volume to push price considerably lower.
There was no trading in both England and the US overnight, which left our market with a free kick on Monday, so don't be surprised if we see an attempted reversal, or reversal today, or perhaps a bar which suggests support, adjacent to the mid May low.   
Anyway, I will wait for some form of confirmation of Monday's potential weakness, before making strong plans for a secondary breakdown.






Good Trading and Investing