Wed. a.m. 5/1/22. Mixed results in U.S.
Dow - new record. SP500 flat. Nasdaq down. Banks Whooshka. Bond yields higher.
Dow Jones +0.59%. SP500 -0.06%. Nasdaq -1.33%. Small Caps +0.65%. Banks 3.39%.
US 20Yr Treasuries Yield +5.67%. That's what sank the Nasdaq which is sensitive to interest rates - and gave the Banks such a boost.
SP500.
SP500 is in a short-term sideways consolidation. The medium-term trend remains up.
Hull 13MA has turned down which suggests the next move will be to the downside. Plenty of support remains on the downside, so this may be a buy the dip scenario.
Commodities.
Commodities Index +1.2%. Energy +1.09%. Base Metals +1.36%. Gold +0.74%.
Iron Ore +2.8%.
Overnight Oz Futures -0.3%.
Expect a weak opening after yesterday's huge rise in the XJO.
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