16/6/22. XJO finished flat today -0.15% after being up >1% in early trading.
Today was a reversal day - that's not uncommon as an Index searches for a "bottom". Such action at the top of a trend is negative - at the bottom of a trend it suggests the opposite.
RSI14 is very oversold at 25.03. We don't often see readings like that without a short-term rebound.
Breadth today was OK with 898 Advancing Issues and 583 Declining Issues.
Four Sectors were up today Energy +0.48%. Materials +0.38%. Communication Services +0.53%, and surprisingly, Property +1.2% (the best performing Sector).
GMG is the largest stock in the Property Sector. It was up today +2.39%.
Positive Divergences, particularly on MFI, suggest the next move will be to the upside. Watch.
