Pineapple Monday

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Good Morning and Welcome to the XJO Monday Thread

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News for Today (AEST)
(not much)




The XJO closed lower on Friday
Spread was very wide, volume was extremely high, and the close was only a little off the day's low.
The Index initially began the day responding higher to the recent absorption bars, and the positive overnight trading, and was making a decent challenge to the green breakdown line above.
Then unexpected overseas news arrived which completely wrong footed the markets, who in my opinion were not prepared at all for this outcome, and an undignified scramble began to take place across all world markets.  High volatility was the order of the day for quite some time, as market participants digested this news, and took whatever action they deemed necessary at the time.
Price sliced down through two decent levels and established a new low as it came off, and such was the scramble towards the close, that the Index did not finish at a 'logical' level for the day, and was sort of left 'dangling in mid air' at the end.
Fridays nights overseas trading will most likely make a serious difference to our local Index for trading on Monday, where we could easily see a  reasonable recovery, or a continuation of this new downtrend.








Good Trading and Investing

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