Yesterday, XJO was down heavily -1.29%. All eleven sectors were negative.
SFE Futures are well down this morning after big falls in Europe and the U.S. Oz Futures -0.79%.
Overnight in the U.S.
Dow Jones -0.98%. SP500 -1.38%. Nasdaq -2.17%. Small Caps -0.88%. Banks -1.1%.
Nasdaq has formed a double top and broken below its 20-Day MA.
The break down by Nasdaq below support is only marginal so it may not signal more down side.
The Index is on a triple Super-trend sell signal. If more down side does come (likely), then the Support Zone shown on the chart is centred on a High Volume Node and at the 50-Day MA. So that will likely hold.
Commodities.
Commodities Index -1.51%. Energy -1.5%. Base Metals in free fall -1.74%. Agriculture -0.77%. Gold -0.48%.
Down grade by Fitch of the U.S. resulted in the $U.S. rising. That had a negative impact on commodities. Not good for Australian resource stocks.
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