Really Fat Pizza, page-886

The XJO closed slightly higher today, where demand appeared to be withdrawn (probably temporarily).
Spread reduced considerably, and the volume was pretty modest for a Tuesday.
I kinda feel like the broader market would have liked to consolidate today, especially after the really strong effort yesterday - which only had the the briefest consolidation in response to Friday's very high volume.
The underlying sentiment in the local market is really positive right now, so even without broad support for a continued push higher today, our market was still able to close a little higher.
If the opportunity presents, look for a 'proper' consolidation, or even a 'threatening' down bar this week - to both test the market for supply, and to perhaps generate (or engineer) another 'buy the offer' event for further accumulation.
FWIW, I don't anticipate very much selling pressure (resistance) within this current zone now, I expect that what was there, was bought last Thursday, when price swept right through the complete range.


cheers

.