positive response - wednesday

Good Morning and Welcome to the XJO Thread

Positive Response - Wednesday

Yesterday almost all of the Sectors and the Parent Index put in potential test like bars,
only A Reit (strongly higher) & XGD (Gold Miners, weaker) bucked this trend.

After seeing a little potential strength come in last Thursday, and now a test on Tuesday (and the weekly chart also showing some potential strength),
a positive response should be expected today which would 'mark' the test as successful
(should this test fail now, further downside would be in order, the only acceptable down bar today would be a secondary test).

That said, potential supply may be waiting just a little higher up on the chart, so it might just bump its head against that and reject......we'll see, if/when it gets there.

The XJO Daily Chart below shows turnover as a proxy for volume, instead of 'normal' volume.

and as a comparison, XJO Daily with normal volume
(sorry its a bit messy, I would normally 'clean' it up a little, before posting)

and finally the XJO Daily with cumulative volume (close to close), just for fun.

News for Today (AEST)

and News from Ben later this week.......So Don't Forget

Good Trading and Investing

cheers