Money can't buy Happiness... - Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEST)





The XJO sliced down through long term support, to close sharply lower on Tuesday.
Spread increased substantially, as did volume, and the close was at the day's low.
Price has made a clean and clear break below the longer term support lines, and also below the apex (in a continuation of the previous trend as was likely), in a classic breakdown of the Index.
There may be further follow through to the downside in the coming days, however the textbook failure of an important level such as this, would see a brief rebound higher, where price attempts to regain its position back above the horizontal lines.  This attempt then fails miserably almost immediately, then follow through again comes in towards the downside.
(the opposing view would still be holding out hope for another complete reversal bar, but sadly the chances of that are now very small indeed)
Finally, while I do have some minor lines below the current price, the next decent longer term horizontal level looks (to me) to be beginning at 4787.5

Spoiler : ***** Warning - Double Entendre, concerning 'Nuts'.... *****

Good Trading and Investing.

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