Thursday, February 3, 2022

Finspiration Australia

 Thu. p.m. 3/2/22.  XJO falls modestly.

XJO printed an inside-day, narrow-range, indecisive candle today.

It started off negatively after U.S. Futures fell on poor reporting results from Facebook.  It recovered some of that intra-day, but generally, the market was going nowhere.

The big miners were the mainstay of our market today..  BHP up +3.1% and Rio up +2.4%.

Banks were a mixed bag with CBA down -1.4%, while WBC went the other way +2.3%.  It's unusual to see the big banks so out of sync.

Information Technology was again the worst performing sector -5.9%.  Health also did poorly -1.5%.

Tomorrow could be a crucial day for the XJO.  After an indecisive day today, if we get a big down day tomorrow, then we could be looking at a lot more downside.

Currently, European markets are ambiguous, with the UK flat, but Germany is showing a loss of about -0.4%.

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