Good Morning and Welcome to the XJO Wednesday Thread
The XJO closed a little lower on Tuesday, where the close was about midbar, spread was about average, and volume remained well below average (which suggests selling pressure is not particularly strong at this point in time). While the response to Mondays questionable bar was to drift lower, it was a fairly benign move and appears non-threatening. Price remains right in the middle of this sideways range, with no obvious sign of a breakout or breakdown, and that is probably where it will continue until a catalyst for a more substantial move arrives. Overall I still have a positive bias for our market, however some overseas markets are looking a bit soft, which maybe sapping some of the confidence from other markets.
Good Trading and Investing
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