Be Heard Wednesday

Good Morning and Welcome to the XJO Wednesday Thread


The XJO closed higher on Tuesday, where spread was wide, and volume increased (but remained below average).
The Index accelerated higher from the open, volume was not excessive, which reduces the chance of this being part of a reversal combination.
It appears a decent proportion of the gains were made on a lack of selling pressure (as opposed to serious demand).
Widespread upbars are notoriously difficult to predict what will happen immediately following them, it usually depends on when the gains begin to draw out increased or excessive supply, then price will usually move into consolidation mode in an attempt to absorb the fresh supply.  From the info on the chart so far, there was no obviously excessive supply drawn out, so barring a complete reversal overseas (which our market would follow no doubt), price is in position to continue a little higher.



Good Trading and Investing