6/3/23. Finspiration Monday Evening Report.
ASX today showed no fear about tomorrow's RBA Meeting. XJO up +0.62%. The market was held back today by falls in recent high fliers, Energy down -1.14%, Materials -0.25% and Utilities -0.47%. Utilities often trails along behind Energy.
Best performing sectors today were Discretionary +1.95%, Information Technology +1.77%, Property +1.7% and Financials +1.19.
Chart for XJO:
XJO finished above the 8-Day EMA today but now faces resistance from Supertrend (7/1.5) and the 20-Day MA - middle of the Bollinger Bands. XJO might consolidate now for a day or two.
Chart for XXJ:
Today XXJ clawed its way back above the 200-Day MA. It still has to rise above the 8-Day EMA and Supertrend. But today's action coming off an extremely oversold RSI, suggests we'll see more upside.
Let's hope the RBA doesn't spring any surprises tomorrow.
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