Finspiration Australia.

16/3/23.  Finspiration Thursday Morning Report. 

Overnight, more turmoil in European banks slump European and American stocks.

Dow Jones -0.87%.  SP500 -0.73%.  Nasdaq up marginally +0.05%.  Small Caps -1.66%.  Regional Banks -1.57%.

American indices were under the pump from the opening after Europe opened well to the down side after a Swiss bank reported problems.  Plenty of intra-day buying occurred in America with Nasdaq actually finished on the positive side.  I've included Regional Banks today (SVB was a regional bank) because that index is more sensitive to problems in the banking industry.  Last night saw heavy intra-day buying in KRX which is a positive, but not necessarily enough to indicate a reversal of the down trend.

SP500.

SP500 failed at the -1SD and the 200-Day MA.  It needs to get back above those two to have a chance of turning bullish.  It was, however, above the low of two days ago.

Commodities.

Fear gripped the Commodities market last night, as well as the stock market.  That's not a good sign for ASX big resource stocks today.

Commodities -2.33%.  Energy -3.95%.  Base Metals -2.66%.  Agriculture -1.1%.  Safe have Gold, of course, went up, +0.78%, but was under intra-day pressure.

Bitcoin.

Bitcoin is consolidating in the upper half of the BBs and remains above the 8-Day EMA.  While that state of affairs remains, the short-term trend is up.