19/10/22. XJO up modestly today.
XJO was up +0.31% today. It has stalled at an important horizontal support/resistance line where it has paused or reversed several times in the past couple of months.
I see no reason to suspect any difference going forward.
The chart is in a short-term up-trend, but still well below the 200-Day MA - the line between bull/bear markets.
The difference between NH-NL has improved but still favouring New Lows.
Until we can see a clear advantage for New Highs over New Lows - long term investors should remain cautious and defensive.
Stay Safe.
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