12/10/23. Thursday Morning Finspiration Report.

 Overnight, U.S.stocks finished on the positive side after afternoon buying erased early losses.  Energy down, Gold up.

 

Dow Jones +0.19%.  SP500 +0.43%, Nasdaq +0.71%, Small Caps +0.16%.  Banks -0.13%.

SP500

SP500 has had a good run-up and is now above the 20-Day MA and Kijun Sen (dotted line).  It is also well above the 8-Day EMA.

MACD Histogram is above its zero line and RSI14 is above its mid-line.  That's a bullish indication.

On the negative side, SP500 is now opposite a High Volume Node.  These tend to act like magnets to charts and often act as resistance levels.  

We may see some consolidation or a pull-back here.

 

 Commodities

Commodities Index -0.57%.  Energy -0.71%.  Base Metals -0.11%.  Agriculture -0.65%.  Gold +0.73%.  Gold tends to be inversely correlated to the U.S. Dollar.  USD was flat last night +0.09%.

After an hour of trading this morning, despite my pessimism over the past couple of days, ASX is up again today, about +0.3%.

I talked about Bank of Queensland last night. BOQ  is up >2% this morning, so it is holding at horizontal support.

The big disappointment this morning amongst the large caps is Resmed (RMD) down -5%.