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It was the FOMC minutes, intended to let a bit of air out of the markets – I knew that 😉
Great view on the current ASX-200 trend Chris!
My system(daily index tracking) with trailing stop for XJO had 7-8 points buffering the hiccups and did not stop my system out.
I also looked at the volatility by smoothing and interpreting it with a weekly chart, for clearer interpretation of current movement.
On a weekly chart what is seen is simply moderate indecision in the market with the current hiccup over last week.
By no means an evening star parttern.
It appears not even as congestion on a weekly chart, but merely a continuation of the uptrend with just a little rest period.
There is no clear indication on a weekly chart to me anyway of a break-down of the current uptrend at this stage.