Inspiration Australia. Chart Analysis for the Australian and International Stock Market.

 5/1/23.  Finspiration Thursday Morning Report.

U.S. and Europe Positive.  Energy Down.  Gold up.  Bitcoin up.

Dow Jones +0.4%.  SP500 +0.75%.  Nasdaq +0.69%.  Small Caps +1.2%.  Banks +2.31%.

The major indices (DJ, SPX, NDX) aren't showing any real sign of direction.  Only the banks look really strong in the New Year.  That looks like the place to be.

SP500.

SP500 remains in a sideways consolidation and within the Kumo Cloud.  That's the no-trade zone. 

RSI and Stochastic RSI remain below their mid-lines.  Wait.

Commodities.

Commodities Index -1.79%.  Energy -2.85%.  Base Metals -0.98%.  Agriculture -1.2%.  Gold +0.94%.

Gold.

Gold is up to the top of its trend channel.  Expect a pull-back.  If it comes back to support of the Supertrend Line and bounces that would be very bullish.

Bitcoin.

Bitcoin +0.97%.  Bitcoin is above the Conversion Line but below the Base Line and the Supertrend.  It is in a modest up-trend which is unlikely to last for long.