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

  6/1/23.  Finspiration Friday Morning Report.

U.S. down.  Europe Up.  Energy down.  Gold down.  Bitcoin flat.

Dow Jones -1.02%.  SP500 -1.1%.  Nasdaq -1.47%.  Small Caps -0.88%.  Banks -1.1%.

It was a case last night of:  "Good news is bad news."  Jobs reports last night were good - which means the Fed will keep on raising interest rates, bad news.

SP500.

SP500 remains in a sideways consolidation and below the down-sloping 20-Day MA.  RSI and Stochastic RSI remain below their mid-lines.  Wait.

Commodities.

Commodities Index -0.51%.  Energy -0.52%.  Base Metals +0.84%.  Agriculture -0.25%.  Gold -1.25%.

Gold appears to be headed back down to support of the 20-Day MA.

Gold.

Gold is falling from the top of its trend channel.  If it comes back to support of the 20-Day MA - it will probably bounce there.

Bitcoin.

Bitcoin +0.15%.  Bitcoin is in a long sideways consolidation.  Wait.

After 45 minutes of trading this morning, XJO is up +0.3% and looks like heading higher.