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

 29/9/22 Overnight.  BoE buys bonds.  Stocks rally.

Dow Jones +1.88%.  SP500 +1.97%.  Nasdaq +2.05%.  Small Caps +2.77%.  Banks +2.09%.

SP500.

SP500 responded well to the BoE actions (which flowed through to American bonds).  The current candle is a bullish engulfing candle which should result in further short-term upside action.

Commodities.

Commodities also responded positively to the action in Bond markets.  Commodities Index +2.78%.  Energy +3.43%.  Base Metals +2%.  Agriculture +0.85%.  Gold +2.08%.

Iron Ore -0.2%.

Overnight Oz Futures are gung-ho, up +1.5%.  Our market should follow the U.S. higher.

Bitcoin.

Bitcoin is currently down -0.87%.  The overall picture has changed, which is bearish.  Short-term it might produce some upside, but strong overhead resistance remains.  Any rally is likely to be sold into.