Weekend Charting and Chat - 09 January 2015

The XJO accelerated away from the danger zone to close sharply higher on Friday.
Spread was wide, close was high and volume (value traded) was slightly increased...... a strong performance.

Intraday (not shown), quite a bit of time was spent negotiating (absorbing) the highs from last Tuesdays widespread downbar, before finally breaking clear late in the day (which was similar to the time spent absorbing supply at the breakdown lines on Thursday).
Fridays close above Tuesdays highs leaves the Index in a strong position to exert it's influence on Monday or Tuesday next week.

It now appears inevitable the Index will (finally) make a challenge to the breakdown line @5481 drawn across the 5 Nov lows, sometime early next week.




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