Small Cap - Thursday

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Good Morning and Welcome to the XJO Thursday Thread

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News for Today (AEST)





The XJO continued to accelerate away from the danger point (5039.6), and closed the day sharply higher on Wednesday.
Spread increased, as did volume (value traded), and at the EOD, the close was again right up at the days high.
Should price continue higher, there are a few levels coming up above the current price, that may cause some difficulties in the near term (5249.6/5292.9/5303.1).

The zone between roughly 5039.6 and 5303.1 is beginning to somewhat resemble a re-accumulation zone, as does the recent trading within it.
This will be especially so, if price again tops out somewhere within the levels mentioned above, and comes off again.
Further (sideways) trading between these two levels would most likely be necessary for this to completely play out, and I note that sentiment remains quite fragile across the markets. So be wary of any (unexpected ?? ) event that may cause (newly acquired ?? ) positions to be dumped, which may cause a further breakdown.

Spoiler : *****Warning - Egg laying Humour - please don't click if this may offend you ****

Good Trading and Investing

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