xjo christmas zoomba lounge, page-141

Pisces - Pleeeeeeezzzzzeeeee - bring your considerable talents to bear and give us a decent cranker for Thursday.

This place is turning into a dog's breakfast.

Mongo - we need you to bring a bit of discipline into this affair. When/if Pisces or his alter ego can get us a great cranker - crack the whip and pull this riff raff into line. :)

Now - having said that. Here's tonight's offering.

XJO (ASX200) -1.2%
XTL (Twenty Leaders) -1.2%
XFL (Fifty Leaders) -1.2%
XFJ (Financials) -1.4%
XMJ (Materials) -1.8%
Energy -0.7%
XSO (Small Ordinaries) --1.5%
Comment: Today looked ugly. A flat opening and then a sudden plunge with a sideways shuffle for the rest of the day. Volume? It's always difficult at this time of year to gauge the relative importance of volume as so many traders are away from their desks. Let's compare today with the corresponding day last year? Last year, this day was greater than 800 Million shares traded on the XAO. Today? About 450 Million shares traded. I think we can assume there wasn't much conviction in today's selling. The smart money stood aside. That doesn't mean they'll front up tomorrow. But it suggests they weren't participating in today's selling. So they're just waiting. Shouldn't we do the same?

INDICATORS:
RSI.9: 48.1. Below 45.7. Negative.
MACD Histogram. Marginally above zero. Neutral.
MACD . Marginally below zero. Neutral.
Stochastic: 20.6. Marginally above the oversold line. Neutral
CCI.14: -66.1. Rising from below -100. Positive.

After three days of sideways action - the indicators are also showing ambivalence about the direction of the market.

The short term trend is undecided. The chart must get above the 4140 level to adopt a short term bullish posture. Today's low volume gives the bulls some hope.

Redbacka