Yesterday ASX down, last night U.S. flat.
STW (tracking ETF for XJO) down yesterday -0.65%.
20/50/200 Day MAs are all more or less aligned just below the finish of yesterday's downside movement.
Yesterday brings the STW down almost to the Point of Control on the Volume Profile (horizontal bars to the left of the chart. A congestion zone exists just below the PoC. STW (and XJO) will likely bounce there. There's just too much support around that area to be ignored.
SP500
SP500 is in non-trending mode which favours support/resistance traders. (MACD Histogram almost flat.)
Last night was a narrow range event after heavy volume machinations on Options Expiry day on Friday.
20/50 Day MAs are aligned - non trending.
The chart is at the lower edge of the Value Zone for the Volume Zone - that favours a move back to the upside.
Commodities.
Commodities Index -0.04%. Energy +0.12%. Base Metals +0.65%. Agriculture -0.72%. Gold +0.59%.
That's a bearish candle on the Ag. chart - coming high up in the trend suggests this upside move is coming to an end.
Gold is behaving favourably.
With Base Metals up, we might see some good moves in the miners today - but not reflected in last night's prices. BHP -0.34%, RIO -0.88%.
Overnight Oz Futures -0.29%. That suggests the ASX will open moderately lower today.
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