XJO up modestly on Friday, +0.23%
Friday was a narrow range day well within the range of the previous big down day on Thursday.
XJO has paused at support from early May and at the 50% retracement of the big rally in March/April.
That support is likely to hold.
Overnight in the U.S.
American indices had a strong night last night (Oz time).
Dow Jones +1.00%. SP500 +1.3%. Nasdaq +2.19%. Mid-Caps +0.95%. Small-Caps +1.13%. Banks +0.97%.
SP500.
Triple Supertrend Lines have given a "buy" signal by switching to all Yellow.
SP500 is now at horizontal resistance, but current momentum should be able to overcome than.
Investors seem to be betting that a Debt Ceiling deal will be agreed to before financial armageddon descends on America.
Monday, the U.S. market is closed for Memorial Day.
Commodities.
Commodities Index +1.6%. Energy +1.28%. Base Metals +2.4%. Agriculture +0.83%. Gold +0.4%.
BHP was up strongly in New York, +2.98%. Rio up +2.91%. Woodside up +2.08%.
All of that looks good for the ASX on Monday, especially resources.
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