Late, late show

Just back in the office, at 3.10 pm, after a few errands, and the market has had a retracement day, thanks to the US failing to hold onto early gains. The Xjo index is down 31 points now although for the moment I'd still say it looks bullish in the short term. Here's a 60 minute chart of the Xjo.

There's a reasonably good chance of another leg up, even if it's just for a day or two.

I did buy a few Ozl on the close yesterday at 102 and they've firmed up slightly to be trading at 104.
A new long is in Transfield at 311. The stock has been grinding down, but now the rallies are overlapping previous lows so negative momentum is much reduced. There's been a higher low at 301, but a short term turnaround is not yet confirmed. That would need a trade above 317. Stop is a cent or two below 300.

4.11 Tse traded through to 318 and closed at 317 so I'm hopeful that this will run up to the 330s.

Overall, there was a loss of 21 points in the top 200 index.