The All Ordinaries Index was up marginally today +0.2%.
Breadth was marginally negative with an Advance/Decline Ratio of 0.95.
In the 50 Leaders, NewHighs/NewLows were 1/12 which is quite negative.
Only six percent of the 50 Leaders were above the 10-Day Moving Average. That figure is too low.
Expect more sideways to up movement.
The rest of this week will be dominated by two events in America. Tonight the Federal Reserve meets to announce interest rate settings.
On Friday night, American jobs data is announced.
Either or both of these could have a big impact on the market, one way or the other.
The sideways action over the past couple of days is not unusual leading up to such important news events.
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