XJO From monday's Webinar.
On the Monday Webinar I presented the outlook for the XJO based on Candle analysis.
At the time we looked at the Weekly candle with the long lower shadow.
Weakness from the outset on Monday raises the question about recovery in the short term.
To reiterate the comments the Weekly chart provides 2 significant levels to be monitored for overall direction.
The Weekly candle from last week indicate the high at 5307 and the Midpoint at 5117 this is a key intra week support level.
The Daily chart shows the “kiss of death” from Monday. Intraday support at 5000.