Vanilla Icecream is fine for dessert. But, really, it is a bit boring.Today was a Vanilla Icecream Day. The XAO was up +0.43%. That's OK - but nothing to get excited about.
Nothing much aberrant occurred in the market breadth stats. Small Ordinaries were up +0.6%, 20-Leaders were up +0.5%, and the Mid-Caps were up 0.3%.
The Advance/Decline Ratio was 1.3 - in line with a modest up day.
A small sell-off did occur in the last two hours of trading. That's not to be unexpected - tomorrow is a holiday - so traders probably didn't want to hold positions over the holiday period - particularly as the American Fed is meeting tonight and tomorrow night. That could produce some fireworks on the 26th (American time) in line with fireworks here for Ozzie Day. Or - it could be a damp squib.
Looking at the chart.
Today, the XAO candle hit the oblique up-trend line in place from 11th January. Such a meeting is sometimes dramatically referred to as "The Kiss of Death". If the market falls back on Thursday - then it may be true this time.
It seems our market will now move according to the reactions in America tomorrow night.
Meanwhile - I'm off to have Moroccan Tagine and Chilli Couscous Salad. Bugger the Vanilla Icecream.
Good luck
Red
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