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

9/8/22.  Overnight Major U.S. Indices more or less flat.

 Dow Jones +0.09%.  SP500 -0.12%.  Nasdaq -0.1%.  Small Caps +0.63%.  Banks -0.53%.

Euro Stoxx 50 finished up +0.85%.

American stocks opened strongly following Europe, but the rally faded after the first half-hour.

SP500

SP500 remains in the Retracement Zone between 50% and 61.8% of the fall from late March to mid-June.  That's also opposite a congestion zone which occurred in late May to early June.

The negative divergence on CCI (bottom panel) suggests the next move will be down.

CPI comes out on Wednesday.  That may be a catalyst for a move in the market - either up or down.

Commodities.

Commodities Index +1.21%.  Energy +1.95%.  Base Metals +0.2%.  Agriculture +0.55%.  Gold +0.85%.

Gold continues to find resistance at the 50-Day MA.  A break above that should see a sustained rally to the upside.

Iron Ore +1.7%.  Thermal Coal +2.8%.

ASX is set to open flat with Overnight Oz Futures down -0.1%.