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Good Morning and Welcome to the XJO Wednesday Thread
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News for Today (AEDST)
The XJO closed lower on Tuesday.......after six consecutive trading days which closed higher.
Spread increased, as did volume, but the close was poor.
To be honest - on all that extra volume, (if it was all selling pressure) I would have expected price to close below Monday's low (Which would have really looked bearish)......but it didn't....so while on face value it doesn't look great, just wait for things to unfold before jumping to any serious conclusions.
Anyway, if price actually does pull back - the depth and duration of the pullback should offer some insight into the background (residual) strength of this recent rally.
However, just wait for the Index to actually start to break down, so far this is only one down bar, and it is a down bar which has closed within the range if the previous bar....so no real biggie just yet........well so far anyway.........
Good Trading and Investing
.
Panic - Wednesday
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Last
8,116.9 |
Change
25.000(0.31%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,091.8 | 8,116.9 | 8,041.3 |
| XJO (ASX) Chart |