The market today (XAO) was up 0.6% and finished almost exactly on 4600.
The day's trading was choppy, a lot of huffing and puffing while the market continues to digest Monday's big up move.
Nothting much has changed. The only thing of significance to comment on, in my opinion, was the drop in Telstra's share price. It looks like the shorters are getting stuck into Telstra.
That may be a positive for the market. Telstra has been one of the best performers during the recent dramatic fall in the market. Given its good dividend, Telstra offers a safe haven in bearish market conditions. So now that the fear could be evaporating - the plug is being pulled on Telstra given the negative sentiment being thrown up by government posturing.
But - who knows. Maybe something else is going on with Telstra that you and I know nothing about.
The market was up today - that's a positive.
The A/D Ratio was a healthy 1.43.
Volume was down a bit.
This market isn't out of the woods yet. But it continues to perform positively.
So long as 4500 on the XAO holds, all looks well from my perspective.
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