Monday 1/11/21.  Ozzie market bounces back.

ASX200 lifted today by +0.64% after falling -1.44% on Friday.

The XJO chart has moved back up to the 50-Day MA.  I identified that as a key support/resistance level in yesterday's Weekly Wrap.  I'm expecting that to hold as resistance.  

Despite the move to the upside today, VIX did not fall.  (VIX usually reacts opposite to the stock market.) Breadth was also less than stellar, Advances 714, Declines 732. 

The big surprise today was the fall in Westpac, down -7.4%, that also impacted NAB -0.9% and ANZ flat 0.0%.  CBA rose strongly, up 1.5%.

Defensives were strong today with CSL up +2%, Cochlear up +2.4% and Telstra up +2.6%.  All of that puts something of a dampener on bullish expectations.

Let's see what tonight's action in the U.S. holds for us.