16/9/22. Overnight in the U.S. Stocks continue to the downside. Banks rise.
Dow Jones -0.56%. SP500 -1.13%. Nasdaq -1.43%. Small Caps -0.82%. Banks +1.37%
European STOXX600 down -0.7%.
10Yr T-Note yield now up to 3.45%. That had a negative effect on Tech stocks and a positive effect on Banks.
SP500.
SP5500 has nudged below the lower edge of the Kumo Cloud but still, more or less, in line with horizontal support.
CCI is showing a positive divergence so we could get a surprise move to the upside.
Stochastic has fallen into the oversold region - that's a get set sign. Just don't jump the gun - wait for a move up above 20. Stochastic can stay oversold for long periods of time.
Commodities.
Commodities Index down heavily, -2.92%, pushed down by a big fall in Energy -3.65%, falling from key moving average resistance. Base Metals -0.52%. Agriculture -0.05%. Gold also down heavily -1.87%.
Iron Ore +0.1%. Thermal Coal +0.3%.
Overnight Oz Futures -0.6% indicating further falls for the Australian market today.
BITCOIN.
Bitcoin continues to consolidate at lows and remains in its long-term sideways consolidation. Until we see a move by Bitcoin above the Kumo Cloud and then above the 200-Day MA, it is difficult to see Bitcoin sustaining a bull rally.
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