Weekemd Charting and Chat - 20 June 2014

The XJO gave back a fair bit of Thursdays gains on Friday.
Closing low, on above average volume (value traded), the Index almost came back down to the static axis line @ 5417,
which was effectively the breakout line from the recent lows.
A failure to hold this line, would most likely see lower lows (lower highs are already in place),
conversely, if this line (5417) is held and successfully retested, more sideways action is most likely in store.




cheers