News for Today (AEST)
The XJO closed only marginally higher on Thursday, after being substantially higher during the day.
Volume (value traded) was again high, and was affected by Options Expiry.
Individually the bar looks weak, particularly with the poor close, and may indicate a minor or major high.
However, in an uptrend, and without any other serious weakness immediately behind it,
it may turn out to be one of those 'acronym' bars I mentioned once before....
(I don't want to give Nine Lives a heart attack by repeating it again...).
Pity the volume wasn't clear, as that (temporarily) removes a piece of the puzzle,
although the previous expiry day was the 17th July,
which interestingly put in a very similar bar to Thursday (although the raw volume was a little lower).
And at the time put a question mark of sorts, on the future direction.
The one before that was the 19th June, a widespread upbar.
Fridays bar & volume will add some more information to the story, as it unfolds......
hahaha
Good Trading and Investing
cheers
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