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

30/8/22.  Overnight in America, stocks were down again.

 

Dow Jones -0.96%.  SP500 -1.1%.  Nasdaq -1.12%.  Small Caps -1.12%.  Banks -0.14%.

SP500.

SP500 has broken below its 50-Day MA, but remains above the Kumo Cloud.

The Conversion Line of the Ichimoku System is close to crossing below the Base Line.  That would be a "weak" sell signal.

Commodities.

Commodities Index -2.78% has formed a double top which is usually a reliable sell signal.  Energy -3.18%.  Base Metals -2.1%.  Agriculture -0.43%.  Gold -0.83% and continues in its bear market.

After 90 minutes of trading this morning, XJO is has rebounded off its opening lows but is still down -0.4%.  Energy has taken a big hit this morning, currently down ~3%.  Materials also doing poorly, currently -1.64%.  Financials are doing the heavy lifting, currently up +0.5%.