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

 16/12/22.  Finspiration Morning Report.

Overnight in America - stock pull-back accelerates.

Dow Jones -2.25%.  SP500 -2.49%.  Nasdaq -3.23%.  Small Caps -2.39%.  Banks -1.88%.

Major indices gapped down at the opening and continued south through most of the session's trading.

SP500.

SP500 is down to horizontal support from the late October High.  That might hold.  Next level of major support is the 50-Day Moving Average which is a more likely target for this fall.

Commodities.

Commodities Index -1.21%.  Energy -1.27%.  Base Metals -2.44%.  Agriculture -0.05%.  Gold -1.64%.

With both stocks and commodities down overnight, there's little hope for the Australian market today.

I haven't seen any calls yet that the Santa Rally has been "cancelled".  When we see that, I think that will signal a start of the Santa Rally for this year.

Bitcoin.

Bitcoin overnight followed stocks and gold lower.  Down -2.24%.

Bitcoin might find support at the next Supertrend line.  A break below that would indicate further falls.