Thu. p.m. 23/12/21.  XJO rose modestly today.

XJO was up +0.31%, but remains doggedly within its trading range of the past four months.

Monday's bounce off the 200-Day Moving Average opens up the possibility that XJO is in a rising right-angle triangle.  A break through horizontal resistance would be bullish.

Currently, stocks are preferred to bonds.  So we do have a bias to risk-on for stocks according to this ratio.

Tonight is the last trading session for the U.S.  Tomorrow in Australia we have a shortened trading session.  It is usually accompanied by low volume - which opens up the possibility of sudden movements in the index one way or the other.  Tomorrow could be interesting.