Today the market was up 0.9%. And half of Australia was on holiday. And it showed in the volume stats. Volume today was 641 million shares traded. The 50-Day Average is 1,220 million shares traded. So volume today was about half of the usual volume.
The XAO (All Ordinaries) was up 0.9%.
The XFL (Fifty Leaders) was up 1.1%.
The XMD (Mid-cap Fifty) was up 0.6%
The XSO (Small Ordinaries) was up 0.4%.
The only people at their desks today were the junior clerks who had their orders to keep the blue chips up. Everybody else was in the shopping centres. Or the Ferrari salesrooms. :)
Now - can I divert your attention to the chart above.
BHP. A thing of beauty. The chart - not the stock. Better than any Ferrari.
An upsloping wedge, at horizontal resistance.
hmmm.
Crunch time.
It either goes up big time or goes down big time.
My gut feeling says down.
Cheers
Red
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