Worry Free Wednesday, page-20

Short term Up Trend. Postprandials. Wednesday, 26 November, 2014


XJO up strongly today, +1.15%. Volume was low. That’s ok early on in a trend.

Here’s the chart:



The chart is now in a short term up trend. Indicators suggest this has further to go.

The big test will come around the confluence of the 100-Day, 200-Day and 20-Day M.A.s. Just above those M.A.s is the recent high on 9 November at 5500.

Every sector was up today. And the market finished strongly. A bit surprising was the fact that in the last half hour, the Australian VIX (Volatility Index aka Fear Index) was heading up while the XJO was heading up. Usually these two head in opposite directions. VIX trends inversely to the XJO.

It may or may not mean something. We’ll see tomorrow.

Redbacka