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

 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.

28/12/22.  Finspiration Wednesday Morning Report.

Overnight:  U.S. mixed, Europe up, Commodities up.  Bitcoin flat.  

 

Dow Jones +0.11%.  SP500 -0.4%.  Nasdaq -1.38%.  Small Caps -0.09%.  Banks +0.35%.

RSIs on all five indices are below 50 - that keeps them in bearish territory.  

Tech was the killer last night.

 SP500.

SP500 continues to find support at the Kumo Cloud, but that is precarious as the Cloud is very thin at that point.  That means that support is weak - it wouldn't take much to push the Index below the Cloud and into bear country.

Commodities.

Commodities Index +0.9%.  Last night's candle is a bullish engulfing candle - that's a positive.  That was largely due to a similar event in Base Metals, up +1.79%.  Energy +1.15%.  Agriculture -0.45%%.  Gold +0.84%%.

Last night's candle for Gold was a "smoke-stack".  It finished positive but intra-day selling is evident.  Next movement could be down

In early morning trade in Australia is up positively.  That all ended at about 10.30.  Since then it is all down-hill.  Coming into the lunch session, XJO is down -0.45%.  Only three sectors are up.  Materials, Energy and Utilities.  All others are down.  Health is the worst down >1%.

Bitcoin.

BTCUSD down -0.81% overnight.  Conversion Line of the Ichimoku system has crossed below the Base Line - that's a bearish signal.