13/4/23. Thursday Evening Finspiration Report.
Australian market was down modestly today. XJO -0.27%.
Yesterday, XJO hit horizontal resistance and today retreated a little. Today's candle is an "inside day", suggesting indecision. Tomorrow's action could decide which way the market goes for the next few days.
Stochastic is showing a negative divergence from the chart, which suggests the next move will be to the downside.e
Only three sectors were up today, Energy +0.9%, Info.Tech. +1% and Property +0.4%.
The worst today, surprisingly, was Staples -1.2%. That sector was in the overbought zone of the RSI so there might be some profit taking occurring in Staples. Today's candle was a big bearish engulfing candle which suggests more downside in Staple.
