World Blood Donor Thursday, page-2

XJO down -0.51%



That takes the index back to the support of the 50-Day Moving Average, but it remains within the upscoping channel – or, is it a bear flag?

The short-term trend channel is now down.  That’s significant.

There was enough buying in the last hour to think that the “Smart Money” was taking an interest.
Breadth indicators were so bad, that I think we’ll see some upside tomorrow.

AdvancingVolume/DecliningVolume Ratio was 0.44.  That’s exceptionally low for that ratio.  So I think we’ll be up tomorrow.

A bounce in the banks tomorrow would be a positive.

Here’s a chart for CBA over the past 50 trading days:



Anybody who buys this as a long-term investment needs to see their local friendly psychiatrist.  But, on a short-term basis, the positive divergence on the MFI might be pointing to some upside.  And if we get some upside in the banks, we should see some positive movement in our market.

(Note:  CBA down -0.97% today.)