23/2/23. Finspiration Thursday Evening Report.
XJO down today, -0.4%, after poor report from Rio Tinto.
The market would become a "buy" with a break above the 8-Day EMA. Until that happens, presume the market is still in a down-trend. More conservative traders might wait until Accumulation/Distribution (second bottom panel) crosses above its signal line.
On the RSI, the index is now oversold as it is below the 40 level.
Stochastic and CCI are both showing a positive divergence, increasing the chances of a move to the upside.
Rio reported today and the stock fell -1.68%, but that report also took BHP down -3.41%.
As a result, Materials (XMJ) was down -1.6%, and the worst performing sector today.
Currently, European stocks are trading higher and Dow Jones Futures are up +0.32%. That's looking promising for our market tomorrow.
No comments:
Post a Comment