Finspiration Australia. Chart Analysis of Australian and International Stock Markets

 XJO up strongly today +1.41%

The XJO shows a bullish engulfing candle.  That's usually a reliable signal.

The XJO is probably in a short-term upside move, a counter-trend rally.

The Index was very oversold (below 30) and the CCI shows a positive divergence.

So we can expect a few days to the upside.

Today eight sectors were up and three down.  That's a good breadth spread.

Financials (XXJ +2.65%) was one of the better results in the sectors.

That's a great bullish candle on the XXJ today - but it still has a lot of work to do to prove its bullish credentials.