The XAO was down a bit today -0.5%. But not a lot happened. The XAO chart remains above the 50-Day SMA.It has pulled back from the 4500 area. The bears will read lots into that.
The indications are that a retracement is in the offing. Whether that will be of major or minor degree is still to be seen.
I think it will be of minor degree. The A/D Ratio was still better than ONE today.
A big down day tomorrow would be significant.
I think we'll probably have a day or two pullback before the next move up.
Let's wait and see what tomorrow brings.
Cheers
Red
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