The XJO (ASX200) was up +0.27% and finished at 4900.1. The XAO (All Ordinaries) was up +0.28% and finished at 4998.6.
Both of those numbers look close enough to magical 000 numbers.
The RSI on the XJO nudged up to 68 - that's well into the "caution" area and close to the sell number 70.
Sector Performance today was mixed. Seven S&P Sectors were up and three were down. Industrials barely registered on the plus side, so a better representation is six up, three down, and one neutral.
While the broad market was up around 0.3%, the Small Ordinaries was down -0.1%.
The Advance/Decline Ratio on the broad market was up appropriately 1.3:1. On the 50 Leaders it was a less impressive 0.77:1.
Today was a narrow range candle - volume a little lower than the 50-Day Average. That adds up to day where demand was low.
Is there a catalyst to knock this market lower? Or is the current slowing in momentum just a pause before another higher thrust?
I think we're in for a couple of down days before the possibility of a thrust higher is likely. If the market gets a big down day, that could be enough to throw the market into a short-term down trend.
I really can't see much more upside without at least a pause for breath.
Good luck
Red
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