14/10/23. Saturday Finspiration Report.

 Yesterday, ASX was weak.  Overnight the U.S. was mixed, mostly down.  The big news - prices of Oil and Gold are soaring.

XJO Chart.

XJO down -0.56% after forming a three-day candle-stick reversal pattern right at horizontal resistance and the Kijun Sen.  Expect more downside, but ... look to buy the dip.

Overnight in the U.S.

 

Dow Jones +0.12%.  SP500 -0.5%.  Nasdaq -1.23%.  Small Caps -1.16%. Banks -0.39%.

SP500.

 Like the XJO, SP500 is failing at horizontal resistance and the Kijun Sen.  Look to buy the dip.

Commodities.

 Commodities Index +2.64%.  Energy +3.92%.  Base Metals +0.00%.  Agriculture +0.46%.  Gold +3.21%.

Gold tends to rise quickly in the early stages of military clashes, but then reverts to its previous level.  So, don't expect POG to continue soaring.  Like most markets, Gold tends to act on a 20-Day/40Day Cycle.  It is now 17 trading days since the high in Gold on 20 Sept.  So, we might get another three days to the upside in this cycle.