On today's early morning post, I suggested we were due for a pull back. After headed upwards early in today's session, it was all down-hill, confirming this morning's suggestion. How much more? Anybody's guess - but I don't think it's done yet.
Here's the run-down for today.
XAO - 4842.6. Down 0.4%
In the Industry Sectors, only two sectors were up:
Utilities: up +0.5%
Health: up +0.01%.
It is noteworthy that the both sectors in the green were defensive sectors.
The two worst performers were:
Financials: down -0.7%
Industrials: down -1.0%
Breadth was marginally positive. Advance/Decline Ratio: 1.08.
Like yesterday, Up Volume to Down Volume was in the Red: 0.98
The Ozzie $ fell back below the .92 cent mark today. Nothing much can be read into that on an intra-day basis.
This week-end I'll post an extensive update. One of my charts analysing price and volume is suggesting that a cautious approach to the market should be taken. A retracement seems to have begun.
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