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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEST)




The XJO closed marginally higher on Tuesday.
Spread was about average (again), volume was increased - to above average, and the close was at the day's high.
Interestingly, price dipped lower soon after the open and tested Monday's low to the exact tenth of a point @5498.2 (statistical anomaly/coincidence).  The Index then began to slowly grind higher and eventually recovered all the lost ground by the close of trade.
Volume was above average on Tuesday, so there was some supply around again, something that has not often been present recently.
However, it appears this increased supply was absorbed throughout the day.....at least for now.
There does seem to be a little supply showing up above 5500, and it will be supply which will eventually turn this around at some stage.
Although it does appear to be making a decent attempt at absorbing this supply so far, only an acceleration higher will confirm.
And same as yesterday, if price cannot push higher, it will move to trading sideways in a range, until last Wednesday's low is clearly broken to the downside @5439.8






Good Trading and Investing

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Spoiler : ***Warning - Saucy Cartoon***