Purple Monday

Good Morning and Welcome to the XJO Monday Thread


The XJO closed lower on Friday, where spread was wide, volume increased over Thursday -and was above average overall.   The market sliced lower in response to an overseas free trade announcement..
Price appears to have broken down, although I am always wary of widespread high -volume bars as they may be climactic in nature, so subsequent trading should confirm.   If confirmed as a price breakdown, price will likely trade with a negative influence (trade with a downside tailwind, and any move higher will face headwinds - so to speak).  Our market will usually move in sympathy with US markets when they are coming off, so the Friday trading session (tonight) will be important for our local trading on Monday.   (Note - Friday in the US saw prices continue down and closed substantially lower- edit)




Good Trading and Investing