10/5/22. Overnight.
Dow Jones -1.99%. SP500 -3.2%. Nasdaq -4.29%. Small Caps +2.84%. Banks -1.9%.
Indices down for the third day in a row - and new one-year lows.
The only bright sport (a very dim bright spot) in the American sectors was Consumer Staples which was flat, down just -0.04%.
It is difficult to imagine a more difficult environment for stocks than the current one: war in Europe, slowing Chinese economy with covid lock-downs, possibility of recession in America, an aggressive Federal reserve and high inflation readings.
SP500.
Last might might have been a climax selling event with the Index down >3% and volume at its highest in at least the last 500 trading days. That's about two years. (I haven't looked back more than 500 days.)
Positive divergences on CCI and Stochastic suggest the possibility of a bounce in the near future.
Commodities.
Commodities plunged last night along with stocks. Commodities Index -4.52%. Energy -5.57%. Base Metals -2.96%. Agriculture -2.34%. Gold -1.45%.
Iron Ore -4.7%.
After 10 minutes of trading, XJO is down -1.55%.
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