Weekend Charting and Chat - 31st March 2017, page-8

Friday's action was clouded by several elements, e.g., last day of the month, last day of the quarter, options settlement day, an overbought market looking to sell off.  What contributed to the down turn on Friday (xjo -0.53%) is anybody's guess.  There may have also been a touch of pre-empting the U.S. indices on Friday night.  Dow Jones down -0.31%.

I'm perplexed by much of the action that occurred on Friday in our market.

First, let's look at the volume figures.  Friday was Options Expiry Settlement Day - usually a high volume day as market makers and arbitrageurs settle up trades made on Options Expiry Day on Thursday.  But - here's the graph of volume since late February:



In the scheme of things, Friday was a low volume day, finishing below the 10-Day MA which is falling.

How can that be when we look at the volume figures in the following charts of some of the big blue chips.

CBA



TLS



WPL



WESFARMERS