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

 30/9/22.  Overnight in America, stocks fall heavily

.

Dow Jones -1.54%.  SP500 -2.11%.  Nasdaq -2.84%.  Small Caps -2.09%.  Banks -1.57%.

SP500.

This action looks like a test of the recent low.  The index remains very oversold on the RSI at 30.97.  Stochastic remains in its oversold zone.

Good positive divergences remain on MACD Histogram and CCI which suggest a move to the upside is likely.  Just don't jump the gun.

Commodities.

Commodities Index -0.62%.  Energy -0.95%.  Base Metals +2.24%.  Agriculture flat +0.05%.  Gold flat -0.02%.

Iron ore flat. -0.1%.

Overnight oz Futures -0.4% - that guarantees a poor start to today's trading.  After 30 minutes of trading, XJO is down about -0.6%.

Bitcoin.

Bitcoin is currently up +0.3% in low conviction trading.

The chart has, however, formed a "saucepan bottom" which often translates into a momentum move to the upside.  Any counter-trend movement will probably be sold into.