Seafood For Dinner Wednesday, page-2

XJO down today moderately today (-0.47%).



That brings the index back to support from early November High.  That was an important inflection point, so we should see some action here.

The negative divergence on the CCI has played out.  We now have to see if this support level holds.

We saw some important changes to sectors today.

XEJ has now resolved to the downside, and is showing rotation out of the sector (see bottom panel).



XEJ and XMJ have been the backbone of the Australian market in recent weeks.  So this is an important development.

XMJ continues to show rotation into that sector.



XMJ was down today -0.41%, but still less than the fall in the XJO -0.47%.  So there is still no serious threat in the Materials Sector.

XGD, although down today (-0.57), is looking good.

A few sectors show neutral positions, but showing possible signs of moving to the upside.

These sectors are:  XDJ, XHJ, XXJ

Look to those sectors if Materials deteriorates.