A strange day today. Financials were down. Materials and Energy were up strongly.
The Advance/Decline Ratio was positive at 1.39. UpVolume/DownVolume Ratio was a very strong 4.96. Go figure. This means that a lot of volume was going into a relatively much smaller proportion of stocks.
The market is getting out of whack.
Combine that with fact that the Gold/XAO Ratio was a strong mover today, and you can see how out of kilter things have become.
The momentum from today's UpVol/DownVol Ratio will probably continue through to tomorrow. But things have to come back into equilibrium.
After another day or so, I'd expect the general market to fall.
Cheers
Red
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Last
8,589.3 |
Change
-13.700(0.16%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,603.0 | 8,617.0 | 8,572.1 |
| XJO (ASX) Chart |