Really Fat Pizza, page-878

The XJO closed lower on Friday, where spread was about average and the close was poor.
Volume was affected by 'individual equity options expiry' and was absolutely massive, the most I can ever remember.
So I expect that 'normal volume' would have been pretty high, even if the expiry volume was (somehow) removed or disregarded.
After four days of relative strength, I expect the market needed some form of consolidation.  If today's high volume was really some increased supply drawn out - and even if it has been comfortably absorbed already - I would expect price to initially come back early next week to test the market for supply.  Then price will react, depending on how much (or little) supply is drawn out.
So watch for the response early next week.


Weekly charts later tonight.

cheers

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