suppose you were an idiot... - thursday

Good Morning and Welcome to the XJO Thursday Thread

News for Today (AEDST)

Well the underlying strength I mentioned was not apparent yesterday, and the battle between sectors continues.

The XJO came off with a wider spread and an increase in volume (value traded), although volume was about average overall.

Volume was falling when it rose before bumping its head, and now is increasing as it comes off, which you can see on the chart.

That said, it appears to be falling under its own weight so far (a lack of demand), rather than serious selling pressure, as volumes remain average to low.

A continued fall may cause a domino effect, so keep an eye on the volumes over the following days.

Also worth a mention is the break below the previous pivot high, which provided support earlier - this is a continuation of the set up I mentioned yesterday.

Good Trading and Investing

cheers