Finspiration Australia. Friday markets: Australia rose and U.S. Markets mixed.

 Yesterday in Australia.

XJO is in a strong up-trend and seems likely to head to a major horizontal resistance level at 7472.  XJO finished at 7406.  That's only 0.9% higher.  We could make that in one or two days.

A negative divergence is beginning to show up on the CCI which means we can expect a pull-back in the near future.

Overnight.

Dow Jones +0.44%.  SP500 +0.51%.  Nasdaq -0.16%.  Small Caps +0.63%.  Banks +1.53%

SP500.

 

SP500 is also in a strong up-trend and has finally risen above the Ichimoku Cloud.  Next horizontal resistance is at 4580.  SP500 finished at 4530.6.  That's 1.1% away.

CCI is showing a negative divergence so a pull-back is likely in the near future.

Commodities.

Commodities Index +0.74%.  Energy +0.83%.  Base Metals +0.66%.  Gold -0.41%

Commodities Index, Energy and Base Metals all appear to be in consolidation patterns.  Watch which way these break.  I suspect it will be to the downside, trapping a lot of people who are currently long.

Overnight Action in Equities and Commodities is bullish for the Australian market on Monday.

New York Advance-Decline Line.

NY A-D Line is trending to the upside, but appears to be consolidating.  A downside reversal would be bearish.  Watch.