16/5/23. Tuesday Morning Finspiration Report.
US markets remain stalled by the stalemate in the Debt Ceiling discussions.
Dow Jones +0.14%. SP500 +0.3%. Nasdaq +0.66%. Mid Caps +0.77%. Small Caps +1.04%. Banks +2.56%.
SP500
The stalemate is evident here in the SP500. Indicators in the lower panels are sliding sideways.
The SP500 chart is poised at the Point of Control. A major move up or down should be decisive.
The Debt Ceiling discussions will inevitably be resolved soon before Armageddon is released. That will ease the stalemate, then "normal" proceedings will resume.
Commodities.
Commodities Index +1.15%. Energy +1.68%. Base Metals +0.43%. Agriculture +1.25%. Gold +0.21%.
This morning, after an hour of trading, XJO is down a little, -0.1%. Investors seem to be positioning for an upside move with defensives being sold off. Woolworths -1.22%, CSL -1.05%, TLS -0.46%, Coles -0.98%. Financials up +0.39% and Materials +0.5%.
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