Mission Statement - Wednesday, page-2

Intra-day Selling in Oz.

Tuesday Evening Liqueurs, 4 August, 2015.


XJO was up today after yesterday's lack-lustre performance, affected by the NSW Bank Holiday.

XJO +0.33%. The index continues to struggle at multiple resistances. That's not unexpected in such a situation. If it manages to break higher here, we'll have a real bull market on our hands. A retreat here - well - it's just a pull-back until proven otherwise. I still think the overall picture is bullish, but we need to get over the current brick walls.

The overall picture remains bullish, but we do need to see a break higher here to prove that.



I can't really see an argument one way or the other at this stage. Possibly the best argument lies in the fact that the market is not overbought. On the other hand, indicators are high enough to suggest that, if this is a bear market, we could easily fall here.

Let's wait and see. A break higher in the hear future would be very bullish.

RB.