Tick Tock Thursday

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Good Morning and Welcome to the XJO Thursday Thread
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I will be away again for almost three weeks in early January, and unless there are a few posters who would like to start the thread each day (redbacka should also be back by then, and will help out as well I reckon), I am thinking I will just start a generic 'XJO January' thread for all XJO posts until I get back.  Let me know, if anyone has a preference either way, or would like to be a daily starter for that period.


News for Today (AEDST)




The XJO closed higher on Wednesday, where spread increased, volume was low, and the close was near the day's high.
The Index continued to trade within this low supply environment, and barring a complete reversal (which is unlikely, but always possible) the acceleration higher showed  'an ease of movement' towards the upside, and also offers some confirmation that last Friday's increased supply was absorbed (as suggested).   Even though the volume was low on Wednesday, the wider spread and strong close changes any consideration of a lack of demand in the market, to a lack of selling pressure........as has been the case for sometime now.  I expect we will continue to trade in sympathy with overseas markets to some extent, and given a reasonable outcome overnight the momentum generated in our market will continue on today, albeit with a somewhat reduced spread. And to turn things down, price really needs to close clearly below ~5600



Good Trading and Investing