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

 10/12/22.  Finspiration Saturday Report.

Overnight, U.S. stocks retreat after late plunge.

Dow Jones -0.9%.  SP500 -0.73%.  Nasdaq -0.7%.  Small Caps -1.07%.  Banks +0.05%.

SP500.

SP500 remains at the low edge of its recent short-term pull-back.  That lengthens the odds that the pull-back will continue.

Very good support remains nearby:  horizontal support, Ichimoku Base Line, top of Kumo Cloud.

Resistance remains overhead:  200-day MA, Supertrend Line, Ichimoku Conversion Line.

The Index remains in the lower half of the upsloping Andrew's Pitchfork.  The Index could retreat a fair way before falling out of the Pitchfork and still remain bullish.

This is a battle between bulls and bears.  Wait.

Commodities.

Commodities Index +0.13%,  Energy +0.52%.  Base Metals -0.68%.  Agriculture -0.51%.  Gold +0.35%

Energy is the dominant factor in the Commodities Index.  Downside momentum appears to be weakening.  This can go either way but the greater risk is to the upside.

Yesterday in Australia.

Yesterday, the XJO was up moderately, +0.59%.  Like the SP500 it is teetering between support and resistance.  Wait.

Bitcoin.

Bitcoin in USD was down overnight -0.41%.  It continues to consolidate at the low end of its long-term bear market.  

I'd avoid BTC until I saw clear evidence of a return to bullish conditions.