[ATTACH] Good Morning and Welcome to the XJO Wednesday Thread...

Good Morning and Welcome to the XJO Wednesday Thread

The XJO closed higher on Tuesday, where spread and volume remained above average (there was a small reduction in spread and volume over the previous day, but not enough to hang your hat on).
The response to Mondays unusually high volume did not see any serious weakness drawn out, and the Index kept grinding higher throughout most of the day.  We'll have to consider that higher volume (for a Monday), was due to price absorbing its way through resistance. Price moved above an older breakdown line on Tuesday, and is trading adjacent to a series of lower highs from mid March.   At this stage the absorption process continues, although a period of consolidation should be expected at some point.



Good Trading and Investing