Finspiration Australia.

 14/2/23.  Finspiration Tuesday Evening Report.

XJO was up just +0.18% today after being up much earlier in the day as intra-day selling knocked the top of early gains.

As a result, XJO shows a tomb-stone candle - that's an indecisive candle - and certainly not a bullish candle.

The chart is show a "hidden divergence".  This occurs when the Index makes a higher low but Stochastic makes a lower low.  This is a bullish continuation signal, but we need to see a bullish candle and a break above that knot of indicators on the chart:  8-Day EMA, Supertrend and Hull Moving Average.  They are causing some short-term resistance.  That could turn into a downside rout - we will have to wait and see.

No doubt, today's indecision was a result of the market waiting to see economic data coming out of the U.S. tonight: Consumer Price Index (CPI) retail sales, industrial production and housing.  That might provide further evidence of the effects of Federal Reserve interest rate rises.

Australia is currently into reporting season.  Tomorrow is a biggie, with Cochlear, Comm Bank and Wesfarmers reporting.