XSO (Small Ordinaries) Weekly Chart outlook.

Good news : There is a Relative Strength within All Ords. which we may overlook. This is clearly shown on this XSO chart.  Compare it with XFL(ASX Top 50)  if you wish. Yes, still range-bound/congested/flat/consolidating/trading-range as far as it’s intermediate term trend is concerned.

One may wait until the larger trading range resolves itself over the coming weeks in order to have a clearer view as to which direction the XSO may be headed. If it is consolidation, as I think it might be, it will pop up with an upside breakout.

One may look for ETFs representing XSO and drill them down with further analysis.

xsoweekly19082017

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