Monday, January 30, 2023

   31/1/2023.  Finspiration Tuesday Morning Report.

U.S. stocks finish lower.




Dow Jones -0.77%%.  SP500 -1.3%.  Nasdaq -1.96%.  Small Caps -1.08%.  Banks -0.91%.

SP500.


SP500 has formed a bearish kicker pattern.  (Previous day, up, today down).  Dow Jones (see first chart above) has formed an evening star pattern.  Expect more selling.

Plenty of support remains nearby - so the pull-back may not be too strong - depends on what the Fed. does and says later in the week.

Commodities.


Commodities Index -1.29%.  Energy -2.39%.  Base Metals -1.54%.  Agriculture +0.55%.  Gold -0.26%.

Friday's sell signal (StochRSI below mid-line) played out today.  Wait for StochRSI to rise back above mid-line before re-entering.

Despite the bearish lead from Wall St, XJO, after 45 mins of trading, is up +0.26%

Bitcoin.

Bitcoin was down -1.49% last night.  It continues to lie within its consolidation zone and remains above the 8-Day EMA and Supertrend.  Watch for more downside.






Bitcoin continues to hover around the 200-Day MA.  It remains above the 8-Day EMA and the Supertrend.  While it stays above those, holders can breath easily.



Negative divergences on indicators are starting to play out.  Plenty of support exists nearby.    A modest pull-back could provide a chance for bitcoin punters to get set for another surge to the upside. 

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