17/3/23. Finspiration Friday Morning Report.
Overnight: U.S. stocks rise strongly.
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Dow Jones +1.17%. SP500 +1.76%. Nasdaq +2.48%. Small Caps +1.65%. Banks +2.57%.
SP500.
SP500's big rise last night takes it back above the 200-Day MA and the 8-Day EMA. It has also left behind the -1 SD on the Bollinger Bands. It is now faced with the 20-Day MA as resistance so some shuffling could occur here, but the outlook is now looking bullish with the SP500.
SP500 will also be looking at the Federal Reserve Interest Rate decision next week. A 0.25% rise will probably be supportive, a 0.5% rise might see the market turn down. Let's wait and see.
Commodities.
Commodities were mixed overnight.
Commodities Index +0.31%. Energy +0.51%. Base Metals -0.26%. Agriculture +0.71%. Gold +0.2%.
After an hour of trading this morning, XJO is struggling, up +0.2%.
Bitcoin.
Bitcoin up +1.44% last night.
Bitcoin continues to consolidate, digesting the big rise from a few days ago. The trend remains up.
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