What's an Economist ?? - Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEDST)





The XJO closed very slightly higher on Tuesday.
Spread narrowed, the close was low, and volume (value traded) was increased, although still below average overall.

On Monday the widespread bar showed 'ease of movement' to the downside, with a low close. Then on Tuesday price rallied somewhat during the day, but the highs failed to hold, and price fell back to close near the day low's. And the closes for both days are almost equal, which does show that there was not much downside follow through on Tuesday. This may be interpreted as support coming in for the market. However, as the Index initially rallied and then almost all of those gains were lost during the day, it suggests that Tuesday was only showing some temporary support, and the probabilities continue to suggest that the sellers retain the upper hand, and Wednesday will likely see a downbar of some sort.










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Good Trading and Investing


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