Finspiration Australia.

 2/3/23.  Finspiration Tuesday Morning Report.

Overnight in the U.S., Dow Jones flat, SP500 and Nasdaq down.  Commodities strong.

Dow Jones +0.02%.  SP500 -0.47%.  Nasdaq -0.66%.  Small Caps +0.21%.  Banks -0.29%.

Dow Jones shows plenty of intra-day buying to finish flat after being well down during the course of the session

SP500.

SP500 is oscillating around the 50-Day MA but above the 200-Day MA.  Last Friday looks like a "spring" - a precursor to a trend change to the upside, but we still need to see a decisive move to the up-side to confirm.

It remains below the 8-Day EMA and the mid-line of the Bollinger Bands.  We need to see the SP500 in the top half of the Bollies before feeling comfortable.

It's not unusual after a "Golden Cross" for the market to come back and test the important MAs (50 & 200).  At this stage the test seems to have been successful.

Commodities.  Mixed Results.

Commodities Index +1.73%.  Energy +1.64%.  Base Metals +2.92%.  Agriculture +0.64%.  Gold +0.58%.

After 20 minutes of trading this morning XJO is up modestly, +0.17% on the back of stronger Energy and Mining stocks.  The rest of the market is doing poorly.

Bitcoin.

Bitcoin up +1.85% overnight.  The crypto is in a sideways consolidation now in the "neutral" zone and oscillating around the 20-Day MA which is basically flat.

The 50-Day MA has crossed above the 200-Day MA which would complete a "Golden Cross", a bullish event.