U.S. Stocks fall into negative territory, with Nasdaq down strongly.
Dow Jones -0.32%. SP500 -1.43%. Nasdaq -2.43%. Small Caps -1.26%. Banks -0.3%.
SP500
SP500 remains in a down-trend - but is oversold so we could see a counter-trend rally.
MACD Histogram and Force Index are both showing positive divergences, so that reinforces the idea that we will see a counter-trend rally.
Commodities.
Commodities Index +0.73%. Energy +1.36%. Base Metals -0.11%. Agriculture -0.46%. Gold +0.42%.
Energy is usually inversely correlated to Stocks. Energy up, Stocks down.
After an hour of trading this morning, XJO is down about -0.6% but off its lows.
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