XJO up today +1.1%.
XJO now faces its first major test since the low in early March. XJO is hard up against the top edge of the Ichimoku Cloud and the 50-Day MA.
Breadth was good today with 821 Advancing Issues and 574 Declining Issues. That still hasn't shaken the A-D Cumulative Chart out of bearish territory but it's not far off a break above the 10-Day MA.
The Oz Federal Government announced support for a small number of companies in critical metals, EVs and Batteries. That resulted in a move in the Materials Sector of +0.4% despite a fall in Iron Ore of -6.5%.
All sectors were up today, the leading sector was Information Technology (XIJ) up +3.3%.
All eyes will be on the U.S. tonight when the Federal Reserve announces its interest rates, with an expectation that rates will be raised by +0.25%.
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