No Selfies Thursday

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Good Morning and Welcome to the XJO Thursday Thread
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News for Today (AEDST)



The XJO eventually closed higher on Wednesday after dipping lower soon after the open....spread and volume both increased to about average.
The Index tested below the lows of the past five trading days during the morning, obviously finding no serious selling pressure. Price then recovered the lost ground during the afternoon with enough enthusiasm to close as a modest upbar, leaving behind a potential mini shakeout.  The most likely response to this price action is a decent upbar, which would form a breakout above this recent trading range.

And for those who still remain bearish, should price fail now (for whatever reason), and this recent accumulation needs to be quickly dumped, the resultant downbar will be spectacular indeed.





Good Trading and Investing