Wed. a.m.  3/11/21.  Fresh records in the U.S.

Yesterday in Australia:

XJO fell yesterday -0.64%.  It remains below the 50-Day Moving Average and below the Ichimoku Cloud, but is finding support at the Conversion Line of the Ichimoku set.

Support and resistance seem to be fairly well defined by the 50-Day MA and the Conversion Line.  Watch for a break-out, one way or the other.

Last night in America:

Major indices were up modestly.  Dow Jones +0.39%.  SP500 +0.37%.  Nasdaq +0.34%.  Small Caps took a breather after the big rise in the previous session, -0.17%.  Banks -0.21%.  Banks appear to be making a bear flag.

SP500:

SP500 is now overbought on RSI14.  CCI and MACD Histogram are both sloping downwards which suggests a pull-back is not far off.  Both those indicators are leading indicators.

Tonight sees an announcement by the U.S. Federal Reserve after two days of meetings.  It's generally accepted that an announcement about tapering of bond purchases will be made.  That's probably priced into the market, but subtle readings of the announcement may still be market moving.

Commodities:

Commodities Index +0.26%.  Energy +0.48%.  Base Metals -0.89%.  Gold -0.21%

Iron Ore +6.6%.

Overnight Oz Futures up strongly +1%.  That seems a bit strong given the modest rises in America and poor metals prices.  But, it is what it is.  At least we should see a very strong start to the day's trading.