Overnight.
Dow Jones +1.22%. SP500 +1.59%. Nasdaq +2.53%. Small Caps +2.29%. Banks +1.88%.
SP500.
Nice three-day reversal pattern (down/doji/up) on the SP500. I don't have a lot of faith in bullish reversals when bearish conditions remains.
SP500 has plenty of over-head resistance and still well below the Ichimoku Cloud.
Wait until we have clear evidence of a return to bullish conditions.
Commodities.
The safe haven premium in Gold is coming off with easing of geo-political tensions in Eastern Europe. That is also easing the Energy price.
Iron Ore down -8.8%. That will affect the price of the Ozzie big iron ore miners.
Overnight Oz Futures +1%. We should follow the U.S. higher this morning.
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