Wed. p.m. 1/12/21.  XJO down modestly.

XJO was down -0.28% today.  Range was relatively narrow and the XJO continues to hold above the 200-Day MA.

The next move may prove decisive.  If we get a big upside movement, then this pull-back could be over.  A break below the 200-Day MA would spell further downside.

Breadth was again bearish today.  NewHighs -NewLows came in at -21 and Advances-Declines came in at -573.  Until we see an improvement in those breadth figures it should prove wise to stay defensive.