28/7/22. XJO up strongly today following the U.S.
XJO is in a short-term up trend. The chart is now into the Kumo Cloud - the no-trade zone.
Given today's strong action, tomorrow will probably be a narrow range day.
Anything can happen from here.
Markets remain captive to earnings season in the U.S. The market can jerk around as results come out. So far, they have been largely positive.
Advance-Declines remains bullish.
Advance/Declines was very strong today - so strong that it probably means a pull-back tomorrow.
The ratio Advance/Declines was +0.73 today. That's the strongest we've seen this year. That's a plus and a minus, medium term, it's a plus, but short term it probably means a pull-back.
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