Finspiration Australia.

15/2/23.  Finspiration Wednesday Evening Report.

XJO down today -1.06%.  The index is now into its eighth day since the closing high on  on 3 February.  Today's action was the biggest down day since the pull-back began.  That often results in a bounce on the next day.

The hidden divergence (higher low for the Index, lower low on Stochastic) is still in play.  I'd go long on the first big bullish candle.  We haven't seen one yet.

The index is now down to a level were a reversal looks possible.  The chart above shows an important horizontal support level, plus the index is down to support of the Kijun Sen (base line of the Ichimoku System).  Support from the 50-Day MA lies a little below the Kijun Sen.

Let's see what the overnight markets bring to the table.