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

3/8/22.  XJO falls after six days to the upside.

 

XJO down -0.32% and stalling at the top of the Kumo Cloud.

CCI shows a clear negative divergence so we should see some more downside.

Things were a bit weird today.  Advances-Declines was positive 704/617.  NewHighs/NewLows was flat 13/12 and VIX was negative - it usually trends inversely to the XJO.

Materials fell heavily early in the day, down -1.5% but finished up +0.35%.  Technology stocks finished up +2.2% today.  But all the big banks were down.

It's a bit hard to make sense of such data, but the trend is probably going down.