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

27/8/22.  Overnight in America.  Jerome Powell opens the Jackson Hole Convention.  U.S. stocks implode.

 Dow Jones -3.03%.  SP500 -3.37%.  Nasdaq -3.94%.  Small Caps -3.2%.  Banks -3.35%.

SP500.

SP500 has broken down from its consolidation.  It has also broken below the Base Line of the Ichimoku set.

The Index has formed a Head/n/Shoulders top.  Expect more downside.

SPX remains above the Kumo Cloud so it could find support from that formation.

Commodities.

Commodities Index +0.41%.  Energy -0.15%.  Base Metals +0.54%.  Agriculture +1.27%.  Gold -1.22%.

Base Metals hit resistance of the previous high set earlier in August and suffered heavy intra-day selling.  That's not a good sign for Base Metals.

Yesterday in Australia.

XJO had a good day yesterday, up +0.79%.

That took it back up close to the 200-Day MA resistance.

Given events over night in America, we can expect XJO to fail again at the 200-Day MA, and fall heavily.  Probably not as much as the U.S., but a fall in the order of -1.5% to -2% can be expected on Monday.