Sat. 1/1/22.  XJO down heavily, U.S. falls in last 30 minutes.

Yesterday in Australia.

XJO down -0.92% and below major horizontal support level.

PRT Bands continue to indicate a bullish trend.  The 8-Day EMA could provide support.

Looking under the bonnet, some surprises can be seen.  NewHigs-NewLows, for example, came in at +41, which remains bullish.

Overnight in America.

 Dow Jones -0.16%.  SP500 -0.26%.  Nasdaq -0.61%.  Small Caps -0.04%.  Banks -0.06%.

SP500.

This looks like topping action but the short-term trend remains up.  Until it breaks below the 8-Day EMA, stay with the trend.

Commodities.

Commodities Index -0.48%.  Energy -1.39%.  Base Metals +1%.  Gold +0.68%.

Australian market is closed on Monday for New Year's Day holiday.  America will trade on Monday night (our time), so we'll have more American data to digest before we re-open on Tuesday.

Judging by the big fall in Oz yesterday, we can expect consolidation - but new data out of America could change that.