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

 6/12/22.  Tuesday Morning Report.

Overnight in America, Dow drops almost 500 points, -1.4%.  Energy down heavily.

Dow Jones -1.4%.  SP500 -1.79%.  Nasdaq -1.93%.  Small Caps -2.72%.  Banks -4.39%,

All sectors in the American market were down.

SP500

SP500 has failed at the 200-Day MA.  It remains in the lower half of the up-sloping Andrew's Pitchfork.

The Index has a triple support area nearby:  horizontal support, the top of the Kumo Cloud and the Ichimoku base line.  That's strong support and will probably hold.

Commodities.

Commodities Index -2.59%.  Energy -3.89%.  Base Metals -1.32%.  Agriculture -0.45%.  Gold -1.72%.

 Iron Ore also fell, -1.9%.

All that makes for a dreary start for the ASX.  After 20 minutes of trading, XJO is down about -0.4%.

Bitcoin.

Above is a Renko Chart for Bitcoin.  Renko Charts have the advantage of cutting out "noise" and trends can be easily see.  Bitcoin was down more than -1% last night.

Bitcoin is currently in a long term down trend, although consolidating at the lower end of the trend.

I would avoid until we can see signs of an up-trend developing.