XJO up for fifth day in a row, +0.68%.
This has been a strong upside movement but the XJO is still not overbought. RSI14 is at 51.02, just past its midpoint so there could be more upside.
The chart is now at the next horizontal resistance level, so we might get some consolidation now after five strong upside days.
Information Technology (XIJ) was the best performer today, +1.7%. I take that as a good sign as IT is a key growth sector and the market now seems happy to bet on growth. Discretionary was next best at +1.23%. That's another important sector for a bull market.
Ten out of 11 sectors were positive today with Health flat at 0.00%.
Bank of Queensland reported today and the market was not happy. BOQ down -7.44% on heavy volume.
BOQ has been under pressure for a long time - you can see that by the down sloping 200-Day MA (that's the black line sloping down in the top half of the chart). BOQ is now back down to an important support zone. If it breaks down through that it might keep going for a while.
CSL held its AGM today and the market was non-plussed by that even. CSL finished flat.
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