18/8/22. Overnight in America, equities moved to the down side.
Dow Jones -0.5%. SP500 -0.72%. Nasdaq -1.25%. Small Caps -1.33%. Banks -1%.
SP500.
Bingo. SP500 has been rejected right at the 200-Day SMA. It doesn't get much more perfect than that.
The short and medium term trends remain up. While the Chart remains below the 200-Day SMA the long term trend remains in doubt.
One rejection is not necessarily the end of the trend, but it is beginning to look like that.
A gap exists between 4140 and 4175 which needs to be filled. SP500 could be headed back down to that zone. SP500 finished at 4274. About 100 points.
Commodities.
Commodities Index +0.39%. Energy +0.81%. Base Metals -1.1%. Agriculture flat 0.00%. Gold -0.85%.
After one hour of trading this morning, XJO is down about-0.5%, but rising off its low which occurred at about 10.30 a.m.
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