Yesterday in Australia, XJO fell -1.69%.
The past two days have seen the Index fall -2.91%.
The trend is bearish with all MAs above the Chart.
Yesterday all eleven sectors were negative. The worst was Property -2.6% followed by Discretionary -2.39%. The best was Utilities, -0.72%.
After such a big fall in two days - expect a pause or a move to the upside.
Overnight in America, major indices fell.
Dow Jones -0.55%. SP500 -0.29%. Nasdaq -0.13%. Mid Caps +0.93%. Small Caps +1%. Banks +1.26%.
The major indices (Dow, SPX, NAZ) all fell, but the secondaries rose: Mid Caps, Small Caps and Banks. Breadth was good. That suggests the U.S. will see some upside from here.
SP500.
Despite weakness of the past two days, the up-trend remains intact with the chart above the 20-50-200 Day MAs and above the short-term Supertrend Line.
Look for a bounce to the upside from here.
Commodities.
Commodities Index +0.83%. Energy +1.59%. Base Metals +0.56%. Agriculture -0.29%. Gold +0.75%.
Here's the chart for Energy.
Energy Has broken above resistance. More upside seems likely. Look to the "Point of Control" ~21 for a target.
Oz Futures are at +0.36%. So the ASX should have a positive start on Monday.
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