14/9/22. Overnight: Big downside reversal in America.
Dow Jones -3.94%. SP500 -4.32%. Nasdaq -5.16%. Small Caps -3.87%. Banks -3.93%.
SP500.
I was expecting a pause here because of dual resistance (horizontal resistance and Base Line of the Ichimoku system). Instead the market has bad a big downside reversal. Selling was unrelenting through-out the day.
SP500 has now reverted to a down trend after four days to the upside. Supertrend Line has switched from yellow to blue (bearish).
It is now facing support of the Kumo Cloud and horizontal support. We might see some churning here as there is a big congestion zone to the left of the chart from June and July this year.
Commodities.
Commodities Index -0.51%. Energy -0.2%. Base Metals -0.68%. Agriculture -0.62%. Gold -1.3%.
Iron Ore +0.5%. Thermal Coal +0.4%.
Overnight Oz Futures -2.2%.
After 25 minutes of treading, XJO is down -2.75%,
BITCOIN.
Bitcoin was flat overnight +0.09%, but remains in its bear market.
Until the chart can get back above the Kumo Cloud and the 200-Day MA, consider any rally to be a counter-trend rally.
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