XJO was up +1.07% today. The index peaked at 12.00 then chopped sideways to the end of trading, finishes close to the high of the day.
XJO is now at a major test point. It is sitting at the 20-Day MA and the Kijun-Sen. Expect a pause here.
Overall pressures remain to the downside, despite the recent counter-trend rally. 50-Day MA is below the 200-Day MA and the Index is below the Ichimoku Cloud.
The Australian market is into reporting season, and a lot of results today supported the market. Macquarie Group (MQG) up +3.9%. Suncorp (SUN) up +5.5%. SCP Property (SCP) up +3.21%.
The two biggest sectors in the market both did well today, XMJ up +2.2% and XXJ +1.4%.
Despite the above good results, NewHighs-NewLows was negative -4. Australian VIX also went across the grain, rising +0.94% to 15.67.
In Europe, Germany's DAX is up +0.6% and U.K. FTSE is up +0.6%. Let's see where they end.
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