Something on a Stick Wednesday

Good Morning and Welcome to the XJO Wednesday Thread

The XJO responded positively to the potential buying seen on the previous bar, to close higher on Tuesday.
Spread was about average, on slightly lower volume (because volume was unusually high on Monday), and the close was strong-near the days high, and also importantly above the previous bars high.  This price action helps to confirm the buying seen on Monday, and possibly averts a serious breakdown in the near term.   I feel the more likely direction in the near term is for some sideways absorption, although if price was to accelerate back up into the previous sideways range, it would show as a multi-bar shakeout (and be a potential sign of strength).





Good Trading and Investing