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

7/9/22.  Ozzie stocks fall heavily.

XJO down today -1.42%.

Today's move takes the Index below the Kumo Cloud - that's into bearish territory.

The Index is oversold with an RSI at 34.21.  So we might see a bounce in the next couple of days, but expect that bounce to be sold. 

Both resource sectors (XEJ and XMJ) were down more than -2%.  Financials (XXJ) was also weak -2%.

Breadth was poor with Advances +507, Declines -805.

We are in the dreaded month of September - historically the weakest month of the year.  Don't expect a lot of positive action.