Wednesday Evening Liqueurs. 18 November, 2015.

XJO up modestly +0.29% after spending most of the session in negative territory.  Volume was about average.

We’re a long way below the 200-Day TMA (curved blue line).  Our market is in seriously bearish territory.

The 20-Day TMA looks likely to cross below the 50-Day TMA – again that would be a bearish sign.

Most of the indicators are coming off low readings, so I’d be surprised if we see a turn-down here, but the chart is at a major resistance level, so anything is possible.

We’re still in basing action where we’ve been since late August.

We might have to wait a while yet before we hear sleigh bells.

RB.