Something on a stick......Tuesday, page-2

XJO down marginally today +0.12%.  The market fell heavily at the opening giving up all the gains from Friday.  Lots of nervous nellies around wanting to bail out on the doom and gloom being spread by the media.

Cooler heads bought the market soon after the opening and the market had regained most of its losses by the time the mid-session had finished.

Energy +0.9% Utlities +0.7% and Property +0.6% were the best performing sectors.

The four big banks all dropped sharply at the opening but finished on the positive side by the end of the day.
AdvancingVolume/DecliningVolume came in at 1.2, mildly bullish.

Here's the XJO chart:



We can see the long lower tail on today's candle which indicates intra-day buying.  Given the intra-day recovery today, we have to presume that the market is bullish.

Let's see what tonight brings.  The media is once again "doom and gloom" - I doubt they're right.

RB