Finspiration Australia. XJO may be on the cusp of a rebound.

XJO down today -0.51%.

 The long lower wick on today's candlestick indicates plenty of intra-day buying.  So we could be in for a bounce here.  Any upside movement is likely to be sold into as the Index is well below the 200-Day MA and the Ichimoku Cloud.

Best sectors today were, XSJ +0.36%, XTJ +0.22%, XPJ +1.45%.  That's not much encourgagement for the bulls as those three segments are all defensive segments.

We're likely to see a bit more upside, but - that should be a chance for longs to adjust their positions.