12/7/22. Australian market finished flat today. XJO +0.06%.
ASX started strongly this morning, up +0.7%, but turned down at 10.25 a.m. and never really looked likely to return to its bullish opening.
The Index remains in a short-term sideways consolidation. The three supertrend lines are flat and parallel to each other. Two lines are above price and one below - another indication of an indecisive market. Wait.
One of the major reasons for the reversal was the Energy sector. It was up nearly +1% in early trading but fell away to finish up just +0.17%.
Amongst large cap stocks, the three best were Amcor +2.38%, Resmed +2.08% and Woolworths +2.03%. Two of those stocks (RMD and WOW) were in the small group in the Weekly Wrap to watch.
