Strong Oz market today. XJO up +0.9%.
Here's the STW Chart (ETF for XJO).
STW gapped up on the opening after the Federal Reserve interest rate announcement. A bit of intra-day selling came in during the day as the STW hit the Tenkan San (Base Line of the Ichimoku System). Momentum might slow here.
Oz Vix has now broken below its up-trend line - another bullish sign.
IT was the best performing sector today +3.23%. IT is a "growth" sector - good to see a growth sector leading the pack.
Second best today was Property, XPJ +2.36%. Property continues as a leading sector.
VAP had a false break below the Value Zone of the Volume Profile (big shaded rectangle on the chart). When that happens the chart usually heads up to the top of the Value Zone.
VAP currently at 72.15. Top of Value Zone 78 (round number). That's a sizeable rise from the current level.
Only caveat - VAP is now at the Point of Control - that might cause a few problems. If VAP rises above that, top of the Value Zone shouldn't be a problem.
Good luck.
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