Monday, February 7, 2022

Finspiration Australia. U.S. Stock indices mostly lower.

 Overnight:


Dow Jones flat 0.00%.  SP500 -0.37%.  Nasdaq -0.58%.  Small Caps +0.1%.  Banks +0.62%.

SP500.

Monday's candle was a narrow-range, inside-day candle indicating indecision.  The past three days have straddled the 8-Day EMA, another sign of indecision.

Major moving averages also provide little direction - SP500 is above the 200-Day MA but below the 50-Day MA.

Monday's finish ended below the short-term line and the medium-term line which suggests down-ward pressure on the Index.

Seventh-tenth days of the month are often bearish.  Wait.

Commodities.


Commodities Index +0.22%.  Energy -0.35%.  Base Metals +0.56%.  Gold +0.74%.

Iron Ore.  China was back from holidays.  IO up +1.9%.

Oz overnight Futures down -0.2%.

Yesterday reporting season in Australia started in earnest.  Major news came from ANZ, which initially fell more than -5% but finished down -1.92%.  Today we get Suncorp (SUN) and Shopping Centres Australia (SCP).  Tomorrow is another big bank, CBA which is likely to be market moving.




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