Proof Reading Wednesday, page-3

XJO up modestly today +0.26%.  It was down early in trade, then around 11.00 a.m. (Sydney time) it took off like a rocket to push the Index into positive territory.  And that's where it stayed for much of the rest of the day.



So, support is holding.  And we have intra-day buying.  Not particularly strong but better than the other choice.

This looks positive, until you investigate the internals.

The best performing Sectors today were defensives.  

1. Consumer Staples.  +0.9%
2. Health Care. +0.7%
3. Utilities +1.2%.

Breadth was also weak.

1. Adv/Decl Issues came in around 3:4
2. AdvVol/DeclVol Issues also came in around 3:4

That's not a picture of a healthy market.

So, where does that leave us for tomorrow?

Basically - nowhere.  We're a bit up today.  Strength wasn't strong.  But not that weak.  Look forward to more noise and nothing much happening.

RB.