The signs were there in yesterday's trading and after a strong night overseas our market delivered today.The structure of the last three days has an uncanny resemblance to the turn of the month January/February (circled). Can we expect a similar performance? Who knows, but I feel sure that we're in for further upward movement.
Volume was high today - not as high as yesterday but still well above average (136% of the 50-Day Average). Advances/Declines was 1.8:1 - very good. Advancing Volume/Declining Volume was in line with that 2.4:1.
Nothing more to say.
Unless something really blows up in the Middle East, this market, in my opinion, looks set for more upward action. For the XJO, the 5000 level certainly looks feasible.
Good luck
Red
No comments:
Post a Comment