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

 23/9/22.  Overnight in America, stocks ease down again after FOMC.

Dow Jones -0.36%.  SP500 -0.84%.  Nasdaq -1.37%.  Small Caps -2.1%.  Banks -2.48%.

10-Yr Treasuries rose to an 11-year high of 3.71%.

SP500.

SP500 remains in its down-trend.  

RSI is very oversold at 32.06, which raises the possibility of a trend reversal.  First sign would be a move by Stochastic out of its oversold zone, going above 20.  The market can remain oversold for much longer than expected, so don't jump the gun.

Using WD Gann principles, I have a turn date of 26/9/22 which is Monday.  Don't expect precision with these calculations, but they're usually not far out - so expect a reversal to the upside in the next few days.

Commodities.

Commodities Index suffered intra-day selling but managed a rise of +0.28%.  Energy flat +0.04%.  Base Metals +0.59%.  Agriculture flat +0.05%.  Gold flat -0.06%.

Iron Ore managed a small rise, +0.2%.  

To start the day, ASX is down heavily.  XJO -1.2%.

BITCOIN.

Bitcoin is currently up about +0.6% but remains bearish.

Indicators are showing positive divergences, so the chance of a counter-trend rally remains possible.

Traders could make good money here, but don't expect any rally to last for too long.