Something on a stick......Tuesday

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Good Morning and Welcome to The XJO Tuesday Thread
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News for Today (AEDST)



The XJO closed lower on Monday, where spread and volume both increased a little (and volume was quite high for a Monday).

Perhaps in response to the questionable (or vulnerable...)  bar on Friday in the US, the XJO dipped sharply lower soon after the open, and made a slightly lower low, as price re-tested the 5710 level again.  However, the support that has been seen previously at this level remained firm, and almost all of the lost ground was recovered during the day.  The response to this bar will most likely be important in the near term....the expectation would normally be for a decent upbar after a bar like Monday's....but we have traded with some sympathy towards the US markets recently, so what happens there overnight, may also play its part in the XJO's response on Tuesday (it would not take very much for price to breakdown in the US, after Friday's tenuous trading session).  Finally, keep in mind that the volume was 'pretty good' for a Monday, so whatever the response today, it is likely to be reasonably strong.




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Good Trading and Investing