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Currently XJO futures down 62 from yesterday's close @ 5616. Dow...

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21/11/18

07:30

Post #: 36580603
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Originally posted by pmd3nka ↑

Originally posted by redbacka
We finally have some technical information that suggests we will see some upside.

XJO was down modestly today -0.38% after being much lower early in trading. XJO finished above the mid-line of today's candle.

XJO is at support set back in 26 October. All indices are now showing the possibility of a positive divergence. We need to see a positive day in the next day or so.

Of some interest was the action in the Oz Vix (aka Fear Index). Despite the clear negative day on the market, A.VIX fell -0.9%. Normally, if our market falls, VIX rises. A.VIX acts inversely to the XJO. Not today. That suggests some smart money was entering the market.

All of that looks promising - but until we see XJO rise in the charts - it's just wishful thinking.

RB
Nice analysis RB. But imo, there won't be upside. Not after looking at US next day on CNN and the current oz charts. Gold? Maybe.

Respectfully,

pmd3nka

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Currently XJO futures down 62 from yesterday's close @ 5616. Dow is down 570. No one likes to buy a falling knife, nor does a down move hit bottom at high momentum. I for one will be standing aside for a while longer.

XAO Value at posting: 5,759.2
6 Upvote

0 Great analysis

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