XJO was just negative at 2.30 p.m. when the RBA announced its interest rate decision. The didn't move it one iota - or even a basis point. I would have thought that would send the XJO into the stratosphere. There was a lot of cheering from the front stalls, but. ..... XJO only finished up +0.45%. A bit dreary really - like the weather in Brisbane today.
Anyhow, here's the XJO chart:
Still, I shouldn't complain. The short-term trend is up and XJO has been up five out of six days. The one day it was down - it was down only -0.02%.
Now the index is at horizontal resistance. Given that America is closed for Fireworks (and the multiple wild fires which will start as a result) you can bet your bottom dollar that our market will fall back a bit tomorrow.
I'd suggest you go to the beach - except that would be a very silly idea. Tomorrow's weather will be like today's - horrible. Anyone for tiddlywinks or monopoly?
See you tomorrow.
Oh, by the way, NewHighs-NewLows Cumulative has turned bullish. There's a sunny thought for you.
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