31/8/23. Thursday Evening Finspiration Report.

 XJO up a little today.  A narrow range day on low volume.  Not much interest in the trading today.

XJO +0.1%.

 This chart is at a major horizontal resistance level.  The market is not yet oversold, so any pause or short-term pull-back will probably be bought.

The market has come a long way in a short period of time - so a bit of rest time seems likely.

But the trend is up.  Stay with it till it ends.

In early evening trading, the big Swiss bank, UBS, is up +5%.  That's helped the European markets to head to the upside.  STOXX600 currently up +0.28%.

Dow Futures up about the same, +0.29%.

U.S. up modestly.   Commodities also saw small rises.

 Dow Jones +0.11%.  SP500 +0.38%.  Nasdaq +0.54%.  Small caps +0.46%.  Banks -0.63%.

SP500

 Momentum slowed last night.  Indicators are not yet at extreme levels, so the Index may have more gas left in the tank.  Stay with the trend.

Commodities.

 Commodities Index +0.12%.  Energy +0.22%.  Base Metals +0.44%.  Agriculture +0.23%.  Gold +0.25%.

After 30 minutes of trading this morning, XJO is flat this morning -0.07%.

 

30/8/23. Wednesday Evening Finspiration Report.

 Ozzie market up very strongly today XJO +1.21%.  STW +1.3%.

The ASX gapped up at the opening this morning, then at 11.30 a.m. a benign CPI figure gave the market another boost to the upside.  After 2.00 p.m., some selling came into the market which took the top of a robust move.

It would be unusual after such a strong upside move for the market to repeat tomorrow.  So some settling can be expected.  STW is also at a major horizontal resistance level - another reason to expect a slower day tomorrow.

Nine out of eleven sectors were up today.  The only significant fall was in Telecommunications -0.2%.  Discretionary was flat +0.04%, but that was largely due to Wesfarmers going ex-dividend today.  WES was down -0.41% but that was on the back of a $1 dividend which deflated the price.

Europe is down -0.19% in early trading and Dow Futures are flat -0.02%.

30/8/23. Wednesday Morning Finspiration Report.

 U.S. markets up strongly.  Gold up.  Commodities up modestly.

Dow Jones +0.85%.  SP500 +1.45%.  Nasdaq +1.74%.  Small Caps +1.33%.  Banks +1.36%.

SP500

 Last night's candle had a wide range that brought the Index up to the "Point of Control" on the Volume Profile over on the left of the chart.  POC tends to act as a magnet for price and often results in resistance.  Look for a consolidation or pull-back to support.

Commodities

 

Commodities Index +0.37%.  Energy +0.69%.  Base Metals +1.33%.  Agriculture -0.14%.  Gold up on heavy volume +0.98%.

After 10 minutes of trading this morning, XJO up about +0.5%.

29/8/23. Tuesday Evening Finspiration Report.

 ASX up strongly today.  XJO +0.71%.  Nine out of eleven sectors were up.

STW (ETF for the XJO) finished at the 200-Day MA and the top of the Kumo Cloud.

That appears to be an obvious place to pause.

In early evening trading, European stocks are up moderately, +0.49%.

Dow Futures, at this stage, are flat -0.01%.

29/8/23. Tuesday Morning Finspiration Report.

 U.S. markets rise.  Energy down  Gold up a little.

Dow Jones +0.62%.  SP500 +0.63%.  Nasdaq +0.84%.  Small Caps +0.84%.  Banks +1.22%.

SP500

 SP500 remains within the Kumo Cloud, that's the "No Trade" zone.

Supertrend is yellow - that's a short-term bullish indicator - and above the Tenkan Sen (Conversion Line), another short-term bullish indicator.

A break above the Base Line and the top of the Kumo Cloud would be a very positive move.

Commodities.

 Commodities Index -0.16%.  Energy -0.58%.  Base Metals -0.28%.  Agriculture +0.97%.  Gold +0.29%.

Sydney Futures +0.35%, which indicates a positive start to trading today in Australia.

28/8/23. Monday Evening Finspiration Report

 XJO was up today but remains in a consolidation pattern.

Chart for STW (ETF for XJO)

XJO up 0.63% today.  STW up +0.75%.

STW needs to finish above the 200-Day MA - that's the solid black line - to confirm a new up-trend.

Health +1.45% and Discretionary +1.36% were the two best sectors today, followed by Financials +0.78%.

The only negative sector was Information Technology -0.74%.

Our market followed on from a strong lead from America on Friday night, but that didn't flow on to major markets in our time zone.  Japan Nikkei down -2.05%.  Hong Kong -1.4% and Shanghai -0.59%.

In early trading this evening, Europe is up +0.64%, following on from Australia's good result today.  Pre-market trading in America is mildly positive, Dow Futures +0.25%

ealth

27/8/23. Weekly Finspiration Repor

STW Monthly Chart  (ETF for XJO)

 

 For the month of August (so far) STW is down -3.67%.

It's been range bound since November 2022.  So - if your portfolio is making money this year - you've done well.

Range 63.06-68.29, that's a range of 8%.

STW Weekly Chart.  (Tracking ETF for the XJO)

The range in STW since March has tightened up even more:  the range is 5%.  63.12-66.76  

That's a very tight range over such a long period of time.  It provides a handy guide now for going long or short when the Chart breaks out of that chart.  We still have September and October to negotiate which often result in stomach wrenching drops.  Wait and see.

This week, XJO was a down modestly, -0.46%,  STW down -0.4%.

Sector Performances this week.

 

 Three sectors up this week, but one of those (Financials) just positive +0.04%. Gold Miners, a sub-section of Materials is the standout on the above chart +3.81%.  

 

Best performing sector was Discretionary +1.78%.  If people are pulling in their belts due to cost of living, it's not showing up in the Discretionary Sector - but, then, the stock market tends to be forward looking, so it could be a positive sign.  (Perhaps all those politicians making mileage out of cost-of-living should enjoy their few moments of glory.  Then they'll be looking for the next issue to belly-ache about.)

 

Property was the other positive performer +0.34%.

 

Worst performer was again Health -2.73%.  Utilities was the other poor performer -2.25%.

Momentum.

 I use RSI from three different time scales to measure relative changes in momentum:  monthly, weekly and daily.

Using this I sort Sectors into Bullish, Bearish, Pull-back and Counter-trend rally.

Bullish:  Discretionary, Property.  (Last week, only Property was in the Bullish group).

Bearish:  Financials, Materials, Energy, Telecommunication Services, Staples, Utilities, Industrials, Gold, ASX200.

Counter-trend Rally:  Health.

Pull-back:  Information Technology.

It's probably best to avoid stocks in the Bearish Sectors, and look for opportunities in the Bullish, Pull-back and Counter-trend Rally Sectors.

100 Leader Stocks above their 200-Day, 50-Day and 10-Day Moving Averages.

Above their 200-DMA:  last week 46%, this week 31%.

Above their 50-DMA:  last week 43%, this week 33%.

Above their 10-DMA:  last week 24%, this week 33%.

Those figures are poor.  Short-term, an improvement has been seen (stocks above 10-DMA) but not enough to get excited about.  The longer-term readings remain bearish and getting worse.

Inter-market Correlations.  Bonds/Stocks

 

The most watched inter-market correlation is the Bond/Stock correlation.  Unfortunately, the correlation is not a stable one.  A positive correlation existed for most of the 20th Century:  i.e., bonds up, stocks up; bonds down, stocks down.

For most of this century, the correlation has been negative.  Bonds down, stocks up; bonds up, stocks down.

Then, in 2020, inflation raised its ugly head, and the correlation is again positive.  Bonds down, stocks down.  And that's where we are now. 

The general trend is down with the occasional counter-trend rally.  The chart is currently at a multi-month low.

Money Flow Index is at an extreme low level.  Rarely does MFI get below 20 before having a knee-jerk reaction back to the upside.  So we could be looking at a move up in the price of bonds in the near future (interest rates down) - that would be a positive for stocks.  This could be a warning sign that stocks are likely to enter an upside move.  This is not a timing mechanism - but a warning signal.

Conclusion.

The Australian stock market has been range bound in a relatively tight range for most of this year.

Watch for a break-out of that range.

The current out-look is murky - bonds could be signalling a move to the upside for stocks.  But I'll wait and see how the charts turn.

If all goes to plan, we should see a rebound this week off the lows, which could carry through towards the end of September.

Keep your fingers crossed - and follow the charts.

26/8/23. Saturday Finspiration Report.

Yesterday in the ASX, the Ozzie market followed the Thursday night U.S. market to the downside.

Last night (Oz time) Fed Head, Powell, spoke at Jackson Hole Symposium for World Central Bankers.  American markets were choppy but finished on the plus side.  (It's debatable whether or not his speech had any effect of the markets.)

Yesterday in Australia:

 STW (ETF for the XJO) fell heavily on Friday, down -1%.  XJO was down -0.93%, more or less the same as the STW.

Thursday saw indicators kick up but not enough to provide evidence that the down trend is over.

The chart remains at the low end of the Value Zone for the Volume Profile, so there is some chance of a move higher.

The "First Three Days of the Month" theory suggests that traders should wait for a move out of the range of the first three days of the month before taking positions.  That theory worked relatively well for traders in August.  A break lower from the range occurred on 16 August and the STW (XJO) has been in a down trend since.  This is clearly a "theory" to be used by swing traders not investors.

Overnight in America:

 Dow Jones +0.73%.  SP500 +0.67%.  Nasdaq +0.94%.  Small Caps +0.15%.  Banks -0.4%.

SP500.

The August fall in the SP500 was well predicted by the negative divergence on the MACD Histogram.

SP500 has been in a downtrend from the beginning of August, and, so far, indicators are not showing a let-up in the fall.

SP500 remains below the Tenkan Sen of the Ichimoku system.  That's the short-term conversion line.

Tenkan Sen remains below the Kijun Sen - that's the base line of the the Ichimoku system.

I'd stay away from this until I get some positive indications that the down-trend has ended.
 

 

24/8/23. Thursday Morning Finspiration Report.

 U.S. markets up, Nasdaq strong.  Gold surges.

 Dow Jones +0.54%.  SP500 +1.1%.  Nasdaq +1.59%.  Small Caps +1.07%.  Banks +1.14%.

SP500

 

SP500 remains in the "no trade" zone - the Kumo Cloud.  The top of the Kumo may cause resistance.  Then the SPX is faced with the 50-Day MA.

Indicators are generally positive.

The short-term trend is up.  Stay with that until otherwise indicated.

Commodities.

Commodities Indes +0.21%, but Energy was down -1.1%.  DBE appears to have formed a small head/n/Shoulders top - so more downside is expected.

Base Metals +0.77%.  Agriculture +1.04%.  Gold gapped up and finished +1.02%.

ASX opened 10 minutes ago and is up +0.4%.

23/8/23. Wednesday Evening Finspiration Report.

 ASX had a positive day but some selling occurred in the afternoon which took the top off some of the earlier gains.  XJO finished up +0.38%.

STW (tracking ETF for the XJO) finished at resistance of the Kumo Cloud and Supertrene (1/10).  

Dynamic Zone Stochastic is pinching together which usually precedes a big move - in this case to the upside.

Info.Tech., which had a good day yesterday +5.19% yesterday, was hit hard by a down-grade of Wisetech, the biggest stock in the sector.  XIJ down today -5.26%.  Wisetech fell -19.62%.

Staples +1.77% rebounded today after Woolworths had a good result.  WOW up +3.51%.  It had been up much higher earlier in the day but suffered selling in the afternoon.

The current volatility is being driven, of course, by company reports. Some good, some not so good.

Early trading in Europe is again positive with Euro STOXX600 up +0.61%.  Dow Futures up +0.41%.  But, as we have seen recently, early trading can evaporate easily as the night wears on.

23/8/23. Wednesday Morning Finspiration Report.

 Optimism in early evening trading last night, fell away.  Europe finished higher, but Dow and SP500 were down and Nasdaq flat.  Ozzie Futures are down a little this morning.

Dow Jones -0.51%.  SP500 -0.28%.  Nasdaq +0.06%.  Small Caps -0.23%.  Banks -2.62%.

Banks are under pressure after many were downgraded by a ratings company.

SP500

SP500 remains within the Kumo Cloud - that's the "no trading" zone.  It has come up to the top of the Cloud and opposite the "Point of Control" on Volume Profile to the left of the chart.  SPX is also facing overhead resistance from Supertrend and then 50-Day MA.  Tough going.

Commodities.

 Commodities Index flat +0.04%.  Energy -0.01%.  Base Metals +0.95%.  Agriculture -0.61%.  Gold +0.16%.

After a few minutes of trading this morning, XJO is down a little -0.1%.

Woolworths reported before the market opened this morning.  Yesterday it was it hard by a poor report from Coles, but this morning it has opened up more than +3% above yesterday's closing price.

22/8/23. Tuesday Evening Finspiration Report.

 ASX flat today, XJO up just +0.09%.

Plenty of intra-day buying today with STW finishing above its opening price after dropping in early trading.

The chart shows overlapping candle-sticks the past few days different from the big gaps above the current congestion zone.  Those gaps will invariably be filled at some time.

Dynamic Zone Stochastic is close to giving a sell signal and the Bands are closing together - so the next move should be to the upside.

To have much confidence in any upside move, the chart needs to get above the Kumo Cloud of the Ichimoku system.

At this stage, the next move is likely to be to the upside.

Best sector by far today was Info.Tech. +5.19%.  That came on the back of a good night in the Nasdaq which had its best day so far in August.  XIJ is showing a good deal of confidence in that big number today so that will probably back the upside move which I think is coming in the ASX.

Worst today was Staples after the market thought poorly of the report from Coles, down -7.08%.  That was a seismic shock felt in Woolworths, down -3.03%.  That takes Woolies down to a support level, but we might need a couple more days to see what the fall-out is like for Coles and Woolies.

BHP reported today and fell -0.71% which isn't too bad when compared to Coles.  BHP also showed intra-day buying - which suggests cool heads weren't to concerned by the initial drop in BHP.

 BHP is at a major horizontal support line and a high volume node (on the left of the chart).  So more upside will probably be seen.

European stocks have started the evening well.  German DAX up +0.97% and French CAC up +1.17%.  US Futures are positive.  Dow Futures +0.15%.  Nasdaq Futures +0.42%.  So the evening is starting off well.

22/8/23. Tuesday Morning Finspiration Report.

 Overnight:  Dow down a little, Nasdaq up, Gold up.

Dow Jones -0.11%.  SP500 +0.69%.  Nasdaq +1.56%.  Small Caps -0.43%.  Banks -0.27%.

SP500.

 SP500 has tested the Point of Control as support and now headed back to the upside.  More upside should be in the offing, but plenty of resistance overhead suggests it will be slow going.

Commodities.

 Commodities Index -0.26%.  Energy -0.45%.  Base Metals +0.56%.  Agriculture -0.28%.  Gold +0.27%.

Gold seems to be forming a bottom.

Commodities Index and Energy (highly correlated) might both have bear flags forming.  Let's have a more detaild look at Energy:

The past four days could be a bear flag, but volume has been substantial - which is not typical suggesting of further falls.  There is, however, something of a battle between bulls and bears.

DBE has tested the Volume Profile Point of Control (on the left of the chart) and that is holding - so expect more upside.

Australia this morning after a couple of minutes of trading is down -0.23%.  Info Tech, following the Nasdaq, is doing best up >2%.  Staples and Miners are the worst.  Early in the day.  But Info Tech looks likely to reverse yesterday's losses.

21/8/23. Monday Evening Finspiration Report.

Late fall on the ASX dropped the XJO well into negative territory.  XJO down -0.46%.

Chart for STW (tracking ETF for XJO):

 The market slipped further into oversold territory today with RSI for the STW down to 35.7 today.  It can go a lot lower befor making a rebound.

Next support lies at 64.00 for the STW which is also a low volume node so a rebound at that level could likely occur.

Only two sectors up today, Discretionary +0.83% and Energy +0.65%.  Materials did relatively well, down only -0.08%.

Worst were Staples -1.34% and Info Tech -1.32%.

Overseas is currently looking a little brighter.  Euro STOXX600 is currently up +0.65% and Dow Futures up 0.22%.  Nasdaq Futures +0.61%.  So we could have a good day tomorrow.

20/8/23. Weekly Finspiration Report.

 

STW Daily Chart.  (A tracking ETF for the XJO)

STW broke down from the bear flag which formed the previous week on low volume. 

This break down has followed the script almost perfectly.  On Thursday, STW reached support which was the level predicted last week using technical analysis.  Friday showed some intraday buying which resulted in a marginal rise for the day, up +0.02% on the STW.  XJO was up just +0.03%.  For the week, XJO was down -0.262%.

This is what I said last week:

The standard measure rule is to take the distance from recent high to the start of the bear flag and project that to the downside from the top of the flag.  That takes the measure rule down to a major support level at 64.62. 

STW finished the week at 64.60 - almost exactly on the predicted level.

STW is now at support.  It has finished level with a High Volume Node and a Horizontal Support line.  That level is also the lower level of the Value Zone for the STW.  That is marked by the big gray rectangle on the chart.

That suggests that the next movement will be to the upside.

Sector Performances this week.

 

 Two sectors were up this week, Property +1.43% and Health +0.96%.  Some stocks in those two sectors performed well this week, some not so well.  Stock picking in those two sectors might pay dividends but not all stocks performed well.

 

Two other sectors performed relatively well, although finishing on the negative side, Utilities -0.1% and Energy -0.3%.  There is often a good correlation between Utilities and Energy.

On the nose were the two biggest sectors, Financials -3.61% and Materials -4.32%.  Gold Mining which is a subset of Materials performed poorly -4.67%.

Momentum.

 The above graph shows the RSI for each sector from the current monthly, weekly and daily charts.  It's a relatively quick way of assessing momentum.

Using this I sort Sectors into Bullish, Bearish, Pull-back and Counter-trend rally.

Bullish:  Property.

Bearish:  Fiancials, Materials, Energy, Telecommunication Services, Staples, Utilities, Industrials, Gold, ASX200.

Counter-trend Rally:  Health.

Pull-back:  Discretionary.

It's probably best to avoid stocks in the Bearish Sectors, and look for opportunities in the Bullish, Pull-back and Counter-trend Rally Sectors.

100 Leader Stocks above their 200-Day, 50-Day and 10-Day Moving Averages.

Above their 200-DMA:  last week 62%, this week 46%.

Above their 50-DMA:  last week 51%, this week 43%.

Above their 10-DMA:  last week 41%, this week 24%.

That figure for stocks above their 10-DMA (24%) is getting back down to levels last seen in June/July and March.  Each time the market rebounded.  This is not a very precise technical analysis signal - signals based on weekly data rarely are - but may give a timely warning to look out for a bounce.

Pre-election Year Seasonality - U.S.

 America is now in the third year of Biden's presidency, i.e., in the pre-election year.

The pre-election year of the Presidential cycle is by far the best performing year in the four-year cycle.

Average Performances for the SP500 for each year of the presidential cycle are:

Year 1 - 6.7%,  Year 2 - 3.3%.  Year 3 - 13.5%.  Year 4 - 7.5%.

It's interesting that on Average the worst month of the year (all years) is September.   But in the 3rd Year of the Presidential Cycle, the worst month is October.  

So, on that basis we can expect a rise in the American market from now towards the end of September, than a fall back in October.  November is then flat, followed by a strong Decembert.

That is by no means a fool-proof recipe for trading.  Other factors must be taken into account.  Use technical analysis to judically adjust exposure.

Conclusion.

This week has played out almost exactly to the technical analysis script presented the previous week.

If all goes to plan, we should see a rebound this week off the lows, which could carry through towards the end of September.

Keep your fingers crossed - and follow the charts.

15/8/23. Tuesday Evening Finspiration Report.

 Australian market finished modestly higher today, XJO up +0.39%.

The past two days have shown good volume on the STW (XJO tracking ETF) which suggests the current pull-back could be over.  The chart remains above the 200-Day MA and the Base Line of the Ichimoku system.   That's solid support.  But it remains below the Conversion Line of the Ichimoku and the 8-Day EMA.  I'd feel happier about more upside if the chart can break above the resistance of those two lines.

The chart remains within the range of the first three days of August (see blue rectangle in above chart).  A new medium term up-trend would be signalled by a break above that range.

Eight sectors were up and three down, so breadth was good.

Health did best today, up +3.16%.  So the big downside movement in Health may be over.  Here's the chart for Health:

That's a great upside reversal from an Accumulation phase in XHJ.  Don't expect the same tomorrow, but the medium term looks brighter for the big stocks in Health.

15/8/23. Tuesday Morning Finspiration Report

 Dow flat, Nasdaq up.  Europe mixed.  Commodities down.

Dow Jones +0.07%.  SP500 +0.58%.  Nasdaq +1.05%.  Small Caps -0.53%.  Banks -1.66%.

The bullish engulfing candle on the Nasdaq suggests that the bear pull-back in the Nasdaq has run its course.  Small Caps show a long lower wick which is also a positive indication that the pull-back in Small Caps is over.  That's arrived at the 50-Day Ma - another positive.

Nasdaq 100 Chart:

 Last night's action is bullish:  

• Bullish engulfing candle, coming at the low end of a down trend.
• Rebound last night comes at the Point of Control on Volume Profile.
  
• Positive divergence on the Stochastic.
• Rising Money Flow Index.

I would have liked to have seen a better volume on the NDX but it was still relatively strong.

This isn't out of the woods yet - plenty of overhead resistance which might slow things down, but looks promising. 

Commodities.

 Commodities Index -0.49%.  Energy -0.57%.  Base Metals -0.94%.  Agriculture -0.75%.  Gold -0.3%.

Base Metals and Gold have faced onslaughts from a stronger U.S. Dollar.  Those commodities tend to rise or fall inversely to the U.S.$.

U.S.$ has had a great run up since mid-July coming off the Point of Control on the Volume Profile.  Money Flow Index is pulling back, and U.S.$ is facing resistance of the 200-Day MA and the Kumo Cloud.  So there is a good chance of a pull-back here in the $ and a chance of a rebound inBase Metals and Gold.

Gold.

 After a long down trend from mid-July, Gold is down to support of the 200-Day MA and Horizontal Support.   Bottom feeders will be looking to buy here.

14/8/23. Monday Evening Finspiration Report

 The Ozzie maarket fell heavily today.  XJO -0.86%.

Here's the chart for STW (a tracking ETF for XJO):

STW broke to the downside of the bear flag that formed over the past seven days.

Volume was higher than seen in the previous seven days - that suggests the bear flag is being fulfilled - lower prices ahead.

The chart finished at horizontal support so we might get a short-term knee-jerk reaction to the upside.  STW also bounced intra-day from the 200-Day EMA.

Today's action also brought the chart down to the Point of Control on the Volume Profile shown on the left of the chart.  POC often acts as a magnet to prices.  It is also a level at which we often see a shuffling about of the price.  

If a bearish downside medium-term movement is to occur,  STW would need a break below the Kumo Cloud.  STW is sitting above that at this stage.

My gut feeling is we'll see more medium-term downside movement - but until a see a break below the Kumo Cloud, I'll hedge my bets.

13/8/23. Weekly Finspiration Report

STW Daily Chart.  (STW is a tracking ETF for the XJO)

(The above chart is a Candle/Volume chart.  The volume is indicated by the width of the candle.  This allows a viewer to see the relative volumes entering the market.  The volume is also mirrored in the MACD Histogram.  The height of a Candle/Volume is the same as a normal candle.)

This week, STW formed a bear flag - and that was on low volume.  That's a near perfect recipe for a move to the down side.  

The standard measure rule is to take the distane from recent high to the start of the bear flag and project that to the downside from the top of the flag.  That takes the measure rule down to a major support level at 64.62.  STW finished at 66.19 on Friday.

That level of 64.62 is also a retracement of 61.8% of the rally from 10 July to 1 August.

So there's a lot suggesting that we will see a further fall from the current level to 64.62.

Sector Performances this week.

 XJO was up a little this week, +0.2%.  Performances in sectors were fairly evenly divided with five sectors up and six sectors down.

The best performing sector was Discretionary +1.96%.  That suggests that the stock market is looking to a positive end to inflation which has so far impacted Discretionary.  The next best was Telecommunication Servicd +1.06%.  That's also pointing to the end of high inflation as XTJ contains stocks like REA (Real Estate Adverting) and SEK (Jobs Advertising).  

Energy was third on the list of positives, up +0.76%.  That tends to move with global movements in Energy prices.

Worst performer was Information Technology (XIJ), down -1.62%.  It is often volatile and impacted by falls in the U.S. Nasdaq Index.  Nasdaq was down exactly the same as XIJ -1.62% for the week.  Amazing coincidence.  

 

Wisetech (WTC) is the largest stock in the XIJ.  It was down -1.45% on Friday on very heavy volume.  Here's a candle volume chart for Wisetech:

That huge volume on Friday probably means the death knell for the recent strong run-up in WTC and will impact the ongoing movements in XIJ.  (I mentioned last week that the out-look for XIJ was poor.)

Conclusion.

That's all from me this week.  I'm not feeling confident about the near future of our market.

Not much happened to the broad market index this week, but some trends are beginning to show.  

Our stock market seems to be indicating that we can see an end to inflation jitters for some of the domestic stocks.

Global shifts in markets may not be so kind to our market - especially Information Technology.