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

6/10/22.  Overnight in America, major indices down modestly.

 

Dow Jones -0.14%.  SP500 -0.2%.  Nasdaq -0.25%.  Small Caps -0.63%.  Banks -1.2%.

SP500.

SP500 opened lower and continued to fall until 10.30 a.m.  10.30 a.m. is often a key reversal time for American indices.  It then rose steadily to be modestly up at 3.15 p.m., then fell into the close at 4.00 p.m.

SP500 has found resistance at the 20-DMA and the last of the three Supertrend lines I have on this chart.

The index must get over those dual resistances to maintain this rally.  Even then, it faces major resistance at the 50-DMA.

Commodities.

Commodities continued to rise strongly last night.  Commodities Index +1.79%.  Energy +2.78%.  Base Metals +0.79%.  Agriculture +0.6%.  Gold fell at the 50-DMA, -0.56%.

ASX has opened modestly lower this morning.  After 45 minutes of trading it is down -0.27%.  Only two sectors are up, Energy and Utilities.  Energy is up strongly.  Utilities often tags along with Energy, but is only up marginally.