XJO 1.03% 7,332.5 s&p/asx 200

I will go through sector by sector... as each of these make up...

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    I will go through sector by sector... as each of these make up the overall XJO.
    XDJ (weekly volume increasing while dropping) - going down

    XEJ (Sideways range trading - presently at prior resistance highs which may break and then back to top levels? Volume has increased as prices increasing) - presently up.

    XHJ (increased volatility *what did I say about that before* - volume increasing as its falling) - heading lower.

    XIJ (price has been declining for few months. Increasing volume as dropping) - heading lower

    XMJ (pushed up on steady volume) - presently up but spiking (maybe topping out?)

    XNJ (sideways volume increasing as dropping but below averages - people losing interest in this sector) - unknown (tending towards a decline).

    XPJ (starting to turn lower or just a pullback? Volume spikes near the top and lower than average volumes but increasing as turning down) - reversing uptrend?

    XSJ (had a good run breaking prior highs but the recent dump may be the start of a continued pullback to prior support) - at present down but may bounce (depending on the general market / economy).

    XTJ (similar to XPJ - start of a downtrend or just pullback? - sitting at prior resistance) - unknown.

    XUJ (downtrend went sideways with volumes increasing as it turned into a push up *mostly from AGL*) - uptrend. Generally a move into Utilities is seen as a flight to safety.

    XXJ (sideways with a bounce from a recent low - volumes are below averages) - sideways with a risk to downside as it hasn't recovered its recent highs. Dandruff pattern playing out?

    The markets are being held up by XXJ, XMJ and XEJ. These being the largest sectors of the markets. Small sectors have started to move sideways or already turning down. A flight to XUJ safety (which represent a small portion of the markets) is likely a flight to safety due to the uncertainty of the general markets.

    Any drops in commodity prices will affect XMJ and XEJ. Interest rate increases are likely to cause XXJ to fall (directly after, but may recover after depending on debt delinquencies). The move down within XPJ is likely due to a scare over increased interest rates showing the first signs of a change taking place in large caps along with several other sectors starting to show signs of a potential downtrend starting.

    XJO is looking like it is turning lower. Up to you is you want to take this advice.
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XJO (ASX) Chart
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