Finspiration Australia. Chart Analysis for Australian and International Stock Markets.

21/5/22.  Yesterday In Australia. 

Strong day on the XJO yesterday, up +1.15%.  XJO has now formed a higher low.  We still need to see a higher high to meet the definition of an up-trend.

Tenkan Sen (Conversion Line - Blue) is now acting as support for the XJO.

Overnight.

Dow Jones +0.3%.  SP500 +0.01%.  Nasdaq -0.3%.  Small Caps -0.37%.  Banks -0.06%.

Flat finish in the U.S. after intra-day buying erased most of the early buying and producing "hanging man" candlesticks on all of the above indices.  That often occurs at or near the end of down-trends.

SP500.

SP500 continues to sketch out a possible bottom for this down-trend.  Positive Divergence on CCI gives further optimism to that view.

Any rally is likely to be a counter-trend rally until proven otherwise.

Commodities.

Commodities Index +0.14%.  Energy +0.62%.  Base Metals +0.31%.  Agriculture -0.67%.  Gold flat +0.07%.

NY Advance-Decline Line.

NY A-D Line remains in a down-trend.  Stay defensive until we see this change to an up-trend.