Tuesday, March 8, 2022

Finspiration Australia. Nasdaq near to bear market territory.

 Overnight.


Dow Jones -0.56%.  SP500 -0.72%.  Nasdaq -0.28%.  Small Caps +0.38%.  Banks +0.63%.

SP500.


SP500 remains in bearish mode.  Last night's candle (tombstone) could signal the end of the current short-term downside movement.  We need to see an upside move in the next session to confirm.

Commodities.


Commodities Index +1.7% continues higher under pressure from Energy +2.98% affected by the ongoing war in Ukraine.  Base Metals had plenty of intra-day buying, down -0.22%.  Gold (safe haven) continued higher also, + 2.74%.

One day, suddenly, we'll see Energy and Gold reverse sharply.

Iron Ore -0.3%.

XJO started in negative territory this morning, but, after one hour of trading, is up about +0.7%.  That augurs well for the U.S. tonight.

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