16/1/23. Monday Evening Finspiration Report.
XJO up another +0.82% today. Up eight out of the past nine days. That's starting to stretch the friendship.
RSI is still not overbought but getting close to the 70 level. Today it was at 67.04.
All eleven sectors were up today. XUJ (Utilities) was the weakest +0.1%. XMJ (Materials) +0.2%. BHP and RIO were both flat today. Both might be about to have a rest or pull-back after very good upside runs. BHP +0.1%, Rio -0.1%. FMG was down heavily -2.06%, All of those big miners were affected by fall in the Iron Ore price -2%. Rio Tinto releases December quarter production figures tomorrow. That could have an effect on the price of the big miners.
Tonight, the U.S. is closed for MLK Holiday. Usually, if Australia is up before an American holiday, ASX is flat the next day or weaker. Rarely is it up strongly.
In early trade in Europe, stocks are just slightly positive. Euro STOXX600 +0.9%. In London, BHP is down -0.9% and Rio is down -1.2%.
Stay Safe.
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