Stay up all Night Thursday, page-2

It was post-budget day today.  And the market should have given us a clear indication about the verdict on the budget.  XJO up +0.26%.  That doesn’t look too flash.

Unfortunately, CBA also chose this morning to give it’s update.  CBA down -2.84%.  CBA is nearly 10% of our market.  Go figure.  That’s nearly -0.3% off the XJO.  Add that to the XJO number, and it’s not looking too bad.

Here’s the chart for the XJO:



1.2.3.4.5 Days hitting up against resistance but the lows are rising.  The odds are on a move to the upside.
Here’s the chart for the XXJ (Financials):



XXJ down -0.51%.  We can see that XXJ was a big down day – going against the trend.  XXJ represents about one-third of our market.  So today’s result was clearly a big drag on our market – but we still finished well on the upside.

Really – I’m just blathering.  


The chart looks a little promising.  Let’s see how tomorrow goes.

At the moment the bull/bear struggle is a tie.

RB.