XJO down today -0.24%. Range was relatively narrow and volume was high. So we had something of a fight between the bulls and the bears as the chart is close to oblique support.
There could be more downside here, but the chart is then looking at support from the 200-Day MA and the downside pivot point from 5 March.
Indicators have turned down - so that puts the bias on the bear side.
But anything can happen here. Wait.
At this stage the sectors to avoid are Materials (XMJ) and Energy (XEJ). If we're to see a turn around in our market we should see significant improvement in those two sectors.
The best sectors remain Health (XHJ), Info.Tech. (XIJ), Industrials (XNJ). Look for opportunities in those sectors.
RB.
No Selfies Friday, page-2
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Last
8,140.9 |
Change
19.300(0.24%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,121.6 | 8,150.5 | 8,121.6 |
| XJO (ASX) Chart |