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

 15/11/22.  Finspiration Morning Report.

Tech stocks weak - lead U.S. indices lower.  Iron Ore strong.  Bitcoin down.

U.S. Indices:

Dow Jones -0.63%.  SP500 -0.89%.  Nasdaq -1.12%.  Small Caps -1.11%.  Banks -2.3%.

SP500

SP500 has found resistance from a minor horizontal resistance level set up back in July this year.

Nearby is a major support level at 3900 (round numbers).  That served as resistance/support multiple times in the past six months.  Expect a bounce at that level.

The Index remains within the confines of an up-trending Andrew's Pitchfork but close to an up-sloping restraining line.  That's positive for the medium term outlook.

Commodities.

Commodities Index -1.49%.  Energy -2.96%.  Base Metals +1.41%.  Agriculture -0.05%.  Gold +0.22%.

Iron Ore +2.95%.

Those metal prices might soften the impact of weak U.S. Indices on the ASX today.

After one hour of trading, XJO is down -0.1%.

Bitcoin.

Bitcoin, on Monday, was up +1.75%.  It is consolidating at the lows with clear support and resistance levels on the above chart.  Watch for a break one way or the other for a new direction.