Overnight:
Dow Jones -0.02%. SP500 -0.54%. Nasdaq -1.4%. Small Caps -1.97%. Banks -1.2%.
Indices were well up early in the day, faded in the middle session, and stayed low in the afternoon.
SP500.
SP500 continues to hold at major support, but below the 200-Day MA and Ichimoku Cloud.
RSI(14) remains extremely ovcr-sold with a reading of 24.3. CCI is show a porisitve divergence from price, so a move to the upside seems likely. Any significant bounce will probably be sold into.
Commodities.
Commodities Index +0.5%. Energy +1.26%. Base Metals +0.17%. Gold -1.29%.
Iron Ore +0.5%.
XJO surged at the opening but has now fallen back a little to be up +0.7% after 30 minutes of trading.
Apple Inc. reported good results after the U.S. market closed and Dow Futures are up 200 points, so that probably explains the positive opening in Australia this morning. After 40 minutes of trading, XJO is up only +0.2%. This is looking like a repeat of yesterday.
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