xjo - weekend charting and chat, page-10

XMJ

The resource sector is the 2nd largest sector in the XJO, so at 17.4% it also pay to monitor this sector.

If we combine the XFJ and XMJ that's a total of 62.4% of the XJO in 2 sectors.

Seems like we only need to watch 2 sectors to get an edge on XJO.

I suspect its currently in a small ED (Ending Diagonal), i cant be sure its topped as the ED pattern has a nasty habit of morphing and chopping and grinding in a wedge shape before it eventually runs out of fuel and reverses hard, in this case i am looking for a strong break lower.

So if we see XFJ and XMJ reverse lower it will suggest XJO will puke.

We need to see a strong break of the red line as the 1st clue of a reversal.

So all eyes on XMJ and XFJ