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

 13/8/22.  Yesterday in Australia.

XJO was down -0.54% with eight out of eleven sectors falling led by Property (XPJ -2.1%).  Energy (XEJ +2.3%) was the best performer.

The short and medium term trends remain up.  The long term trend remains in doubt while the chart remains below the 200-Day MA.

Stay with this rally while the medium and short term trends remain to the upside.

Overnight in America, stocks rose strongly led by Tech.

Dow Jones +1.27%.  SP500 +1.73%.  Nasdaq +2.09%.  Small Caps +1.95%.  Banks +1.28%.

Most of these indices are overbought with RSI14 above 70.

SP500.

SP500 is closing up towards the 200-Day MA.  With RSI14 at 71.67 (overbought), SP500 might find difficulty in breaching the 200-Day MA.

But, the short and medium term trends remain up - so stay with this trend until it has clearly ended.

Commodities.

Commodities Index -0.53%.  Energy -0.59%.  Base Metals -1.41%.  Agriculture +0.19%.  Gold +0.92%.

Gold has made a nice  bounce off the 50-Day MA.  Expect more upside.

The Australian market on Monday should follow the U.S. to the upside, but the weak Energy and Base Metals might put a cap on any upside move.