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

12/7/22.  Weak markets overnight in the U.S. 

Dow Jones -0.52%.  SP500 -1.15%.  Nasdaq -2.26%.  Small Caps -1.35%.  Banks -0.86%.

SP500.

SP500 remains in a right-angle triangle - a consolidation pattern which usually breaks to the upside.

Until we see which way this breaks, it is, in my opinion, best to be patient.

Commodities.

Commodities Index -0.19%. Energy +0.83%.  Base Metals -3.04%.  Agriculture -0.64%.  Gold -0.54%.

This morning, ASX started strongly but fell after 25 minutes of trading.  Most of the early gains have been lost.  At 11.45 a.m., XJO is up 17 points or about +0.3%.

Best sectors are Energy +1.06%, Consumer Staples +0.98%, Health +1.12%, and Utilities +1.2%.  Utilities is often affected by movements in the Energy Sector.