put a pillow on your fridge Monday

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Good Morning and Welcome to the XJO Monday Thread
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News for Today (AEST)




Note - there is no overnight trading in the US Monday night, for Memorial Day,
so be wary of  any unexpected or unusual trading on our market in response.......

The XJO closed lower on Friday, where spread increased, volume was almost average, and the close was back within the range of the previous bar (after dipping below it during the session).  
The failure to recover back above the breakdown line this week suggests the breakdown will be confirmed.  At this point however, it is holding on by the skin of its teeth, & has not quite done so, but it sure looks like it might.   If the breakdown is confirmed, this will open the door for price to come back and test of the support that was drawn out at the recent low.....which I expect will be firm (but not impenetrable)......
On the other hand.....if price were to fail at a test of the recent lows, it would see a secondary breakdown, and a likely test of the ~5600 level.




Good Trading and Investing