Friday, November 18, 2022

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

19/11/22.  Finspiration Saturday Report.

Dow up, Tech flat.  Commodities mixed.  Bitcoin flat.

Overnight in America.


 Dow Jones +0.59%.  SP500 +0.48%.  Nasdaq +0.01%.  Small Caps +0.64%.  Banks +0.79%.

SP500.


SP500 remains within an upscoping Andrew's Pitchfork.  It has come back to the median line and horizontal support, then bounced - suggesting we will see more upside.

The 200-Day MA looms nearby which may cause some difficulty once the chart gets up to that level.

Commodities.


Commodities Index -0.71%.  Energy -1.47%.  Base Metals +0.31%.  Agriculture +0.05%.  Gold -0.69%.

Bitcoin.


Bitcoin was flat - virtually no movement.  It continues to consolidate at its lows.  Wait.

In Australia yesterday.


XJO was up modestly yesterday, +0.23%.  It is consolidating at the top of its range which is a positive.

It remains constrained from further upside by a major horizontal resistance level.  Plenty of solid support remains below.

PRT Bands are indicating a strong up-trend.  A break above horizontal resistance would give a further bullish signal.

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