Finspiration Australia. C hart Analysis for Australian and International Stock Markets.

 18/7/22.  XJO up strongly today.

XJO was up +1.23% today but remains in its sideways consolidation zone.

Breadth was good today with 847 stocks advancing and 506 declining.

Here's the Advances-Declines Cumulative Chart.

A-D Cumulative remains bullish.

NH-NL still hasn't broken above its 10-Day MA.

New Highs remain at a low level, but New Lows have been collapsing.  It wouldn't take much to switch NH-NL into bullish territory.

The 10-Day MA of New Highs is the blue line.  The other one is the 10-Day MA of New Lows.

Cyclical sectors came to the fore today with XIJ up +2.9% and Materials -2.4%.

The previous leaders were both Defensives but that seems now to be switching.  XHJ down -0.5% and XSJ -0.5%.  It might be wise, in MHO, to take profits in those sectors.