Tooth Fairy Tuesday

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




The XJO closed lower on Monday, where spread narrowed considerably, and volume was very high for a Monday.
The Index spent most of the session in negative territory, but did not lose much more ground considering how high the volume was for a Monday, which infers there was an element of support in Monday's trading.  A downbar with reduced spread, closing in the middle (to high), on above average volume, suggests a supportive influence - or at least some speculative buying has come in, which would be confirmed with a positive response in the next bar or two.   Just be aware that if it is only speculative support on Monday, it may be quickly dumped if overseas markets do not respond positively this week, which would potentially cause another widespread downbar.  
So the highest expectation would be for an upbar of some sort today, followed by a secondary (lowish volume) test.





Good Trading and Investing