Chart Analysis on this Blog is purely descriptive.  It is written for informational and educational purposes and should not be taken as financial advice.  Do your own research or seek advice from a Registered Financial Advisor.

22/12/22.  Finspiration Thursday Morning Report.

Is the Santa Rally Dead?

Overnight:  U.S. down, Europe down, Commodities down.  Bitcoin flat.  

 

Dow Jones -1.05%.  SP500 -1.45%.  Nasdaq -2.18%.  Small Caps -1.23%.  Banks -0.45%.

Note the long tails on last night candles.  That indicates plenty of intra-day buying.  Santa might have had a hitch last night, but he is still getting up to speed.

SP500.

Last night's candle pushed well below the Kumo Cloud, but intra-day buying pushed it back above the Cloud.  Above the Cloud retains the medium=term bullish outlook.

Commodities.

Commodities Index -1.27%.  Energy -1.57%.  Base Metals -1.07%.  Agriculture +0.25%.  Gold -1.21%.

Commodities Index continues to run into resistance at the 50-Day MA.  It needs to get over that barrier before further progress can be made.  Gold has pulled back to support of the 20-Day MA - but remains in its medium-term up-trend.

In early morning trade in Australia is down -0.9%.

Bitcoin.

BTCUSD flat +0.01% overnight.

BTCUSD remains below resistance of the Base Line of the Ichimoku system. That's a bearish sign.