Finspiration Australia. Technical Analysis of the Australian and International stock markets.

 XJO fell today -0.78%

Today the XJO finished below both of the 200-Day MA and the 50-Day MA.

Today's range was less than the previous two days but still bearish.

The index is into oversold territory with RSI at 38.2 and CCI at 282.8.  So a bounce is possible.

A reversal might occur if more downside occurs with RSI near 30 and CCI above 300.

The only bright spots today were in resource.  Materials (XMJ) +0.19%, and Energy +0.97%.  

That could portend a move to the upside.  But, I'll wait.