10.45 a.m. 13/7/22. Breaking. XJO just went positive. Up 3.1 points. We could have a positive day today.
13/7/22. U.S. stocks fall overnight.
Dow Jones -0.62%. SP500 -0.92%. Nasdaq -0.95%. SP500 -0.12%. Banks -0.24%.
The three major indices are floating between the 20-Day and 50-Day MAs. A break out of that range will be important.
Coming up in America will be inflation data and the start of earnings season. Among the large caps, JP Morgan is first cab off the ranks on Thursday. These events could act as a catalyst for significant movement in the major indices.
SP500.
SP500 is in a short-term sideways consolidation where it has been for nearly three weeks. Wait for a break-out from the range, 3770-3900.
Commodities.
Commodities continue to be under pressure. That's bad news for Commodity based economies such as Australia.
Commodities Index -4.53%. Energy -5.31%. Base Metals -2.7%. Agriculture -2.77%. Gold -0.37%.
Iron Ore -3.1%.
After ten minutes of trading, XJO is down a little, -0.2%. It's hard to see it turning positive with such poor Commodities and a falling U.S. market.
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