29/5/23. Monday Evening Finspiration Report.

No surprise today to see the Australian market surge higher.  XJO up +0.87%.  It was up higher early in the day but slowly lost elevation as the day wore on.  That's probably not surprising given the holiday in America tonight (Oz time).

Today was a good result for the XJO but no "Get out of Jail" Card.

We need to see XJO break above recent horizontal resistance at around 7290.

Today's solid bounce came off horizontal support and took the Index marginally above the 50-Day MA.  I'd like to see the Index break above horizontal resistance before claiming a victory for XJO.  But - today's action is promising.