Suckling Pig Monday

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



As anticipated after Thursday's above average volume - poorly closing bar, the XJO pulled back and closed somewhat lower on Friday, where spread reduced considerably, and volume was high.   Volume however, was likely affected by Standard and Poor's Index rebalancing, which for the most part involves a lot of paper shuffling and account switching.
The response lower was not really a 'clean and clear' price breakdown, more like a tentative push lower into potential support.  And the actual amount of true volume traded is questionable.
On the raw trading and volume, a response higher would generally be the expectation, and that is what may happen.   However, with the uncertainty around the very high volume on Friday, a (brief) secondary sweep lower will not surprise to more accurately measure the current selling pressure in the market.






Good Trading and Investing