14/12/22. Finspiration Report Wednesday Evening Report.
XJO had a strong finish today after early hesitancy.
The candle-stick formation indicates an upside break-out from the recent short-term sideways consolidation.
The first of the super trend lines has turned positive (from blue to yellow). We need to see all three Supertrend lines turn yellow.
The index is turning up from recent short-term oversold conditions - see two relevant Stochastic indicators.
This may be the start of the fabled Santa Rally - but I'd like to see more upside movement to be confident.
Tonight will bring the announcement of the Fed. Reserve's announcement on interest rates. 0.5% rise is expected after recent rises of 0.75%.
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