28/9/22. Overnight in America - choppy trading, mixed results in stocks.
Dow Jones -0.43%. SP500 -0.21%. Nasdaq +0.25%. Small Caps +0.08%. Banks -0.94%
SP500.
SP500 seems to be searching for a bottom.
Last night, RSI finished extremely oversold at 26.86. Below 30 is extremely oversold. Stochastic remains in its oversold zone, it needs to get back above 20 before we have a chance of a solid rebound.
Commodities. Like stocks - mixed results.
Commodities Index +1.07%. Energy +1.72%. Base Metals -1.13%. Agriculture +0.2%. Gold +0.2%.
Iron Ore -0.3%.
Overnight Oz Futures -0.7%.
Bitcoin.
Bitcoin is currently up just +0.18%.
Looking at the chart, we can see long series of doji candlesticks - indicating little conviction by traders in direction of the crypto. Occasionally there is a solid candlestick, but the chart is dominated by series of doji candles.
There seems to be little chance of a sustained bull market while interest rates continue to rise.
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