Weekly ReportXJO was down a little this week -0.25%.  That did...

Weekly Report

XJO was down a little this week -0.25%.  That did nothing to change the overall trend, but some glimmers of light did appear this week.

The daily and weekly charts are more or less back in sync, rising a little off oversold levels.  So contrarians will be looking for at least a counter trend rally.  

In the previous week all Sectors had been given bearish ratings, with only one (XIJ) showing the potential for a bullish change.  This week, XIJ has lapsed into the outright bearish camp.  One sector has been given a "bullish" rating:  XPJ (Property).  Three sectors have improved from "bearish" to "bearish with a possible positive trend change".  These are XUJ (Utilities), XSJ (Consumer Staples) and XXJ (Financials).

That's not a lot of positives - but some glimmers. 

For full report and charts see https://australianmarketreport.wordpress.com/wp-admin/post.php?post=7398&action=edit