Mon. p.m. 17/1/22. XJO remains delicately balanced.
XJO finished up today +0.32%.
There was some rotation out of the best performing sectors into the weaker sectors today. Materials (XMJ -1%) saw transitions into recently weak sectors. Consumer Discretion (XDJ +2.2%) was the best performing sector today. A positive report from Wesfarmers helped that sector, WES +2.6%. Consumer Staples (XSJ +0.9%) also benefitted from the rotation. Woolworths (WOW +1.3%) was a major beneficiary.
Stocks/Bonds relativities continue to favour stocks over bonds.
Not much can be read into today's action. XJO remains within a tight sideways short-term trend. Watch one way or the other for a break outside that range.
Stock and Bond markets are closed in America tonight (our time) for the MLK Memorial Holiday.
Our market usually trades in desultatory fashion ahead of such holidays. And that's what we saw today.
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