XJO Extends Run

A strong start to the week saw the XJO on the doorstep of a 4,900 handle. MACD bullish divergence continues. Notably, it has now clipped the upper bollinger band which may signify that this rally has been overbought. If this streak of nine consecutive winning days does not come to an end, we will see the XJO punch through its short term resistance and hasten a test of 4,969.