(Click on chart above to see bigger image.)
Just one simple observation to start today. The XAO closed outside the Bollinger Bands. The last two times this has happened, the XAO was down the next two days.
At the end of last week, I noted that the 50 Leaders were overbought. Given the close outside the Bollinger Bands and the overbought status of the 50 Leaders, the chances lie with a short term retracement.
I'll have more to say later tonight after I do some more indepth analysis.
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