John Alexander MP for Sydney has quit causing another by-election. With the general unpopularity of Turnbull, anything could happen, so I am thinking that this degree if uncertainty could spook the local market and I see short term downside as the likely outcome. If he does not retain the seat, then this would undo much of the recent gains in the XJO. The break in the winning streak in the US is a further reason for Bulls to tread carefully.
XJO Weekend Charting and Chat - 10 November 2017, page-8
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Last
7,767.5 |
Change
7.900(0.10%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,759.6 | 7,819.0 | 7,754.9 |
| XJO (ASX) Chart |