6/5/23. Saturday Finspiration Report.
Yesterday in Australia, XJO rebounded from a negative start to finish higher. XJO up +0.37%.
The past two days have seen bottom-pickers active in the market. On Thursday, the dragonfly doji finished finished back above the 200-Day MA. Then on Friday it consolidated that with a positive move.
Given the events overnight in the U.S., it looks like the bottom-pickers are on a winner.
Overnight in the U.S.
Dow Jones +1.65%, SP500 +1.85%. Nasdaq +2.25%. Mid Caps +2.11%. Small Caps +2.38%. Banks +4.61%.
Apple reported after the market closed on Thursday. It popped up on Friday, +4.7%. The market was also helped by easing of fears in regional banks, KRE up +6.29%.
SP500.
That's a very bullish move last night for the SP500. The chart moved above the 8-Day EMA and the Supertrend switched from bearish to bullish.
Indicators are still shy of giving "buy" signals - but they do seem to be imminent.
This seems set for a test of the recent high.
Commodities.
Commodities (except for Gold) also responded well last night.
Commodities Index +2.25%. Energy +3.39%. Base Metals +1.48%. Agriculture +1.59%. Gold -1.56%.
Ozzie big miners had a bonanza last night in the U.S. BHP +4.49%. Rio +3.56%.
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