Steve Jobs Monday

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  Good Morning and Welcome to the XJO Monday Thread
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News for Today (AEDST)



The XJO closed higher on Friday, where price pushed up to the next little resistance zone above, before coming back to close just below it for the week.   Spread was again about average and volume remained subdued, which is OK overall (and is much better than excessive volume, if this is preceding a larger move).  There is still no obvious sign of increased supply being drawn out, which is a little surprising given that price has moved above a really important price level.  Perhaps the sharp pullback over the last couple of weeks has encouraged those who intended to sell, to do so, leaving only reduced selling pressure temporarily within the trading range.  I don't mind if price pushes away for a bit, as it suggests 'intent', however, as this trading range has been so dominant for the last five months, I expect there is a higher than average chance price will test the strength of the breakout, before moving too much higher.





Good Trading and Investing





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