Finspiration Australia. Chart Analysis for Australian and International Stock Markets + Bitcoin.

 18/10/22.  ASX rises strongly.

XJO was up +1.72% following on from strong movements in the U.S. overnight.

The chart for the XJO is interesting.  It has come up to the restraining line of the downscoping expanding wedge which has dominated the chart since late August.  That formation is a bullish formation.  XJO is now on the cusp of breaking to the upside of that formation.  A break to the upside would be bullish.

Without going into details, breadth today was bullish.

Last night in America, SP500 was up strongly.  More importantly it broke to the upside of a down-sloping Andrews Pitchfork.

That's a bullish event.  Expect more upside.