31/1/2023. Finspiration Tuesday Morning Report.
U.S. stocks finish lower.
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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