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.
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