4/10/23. Wednesday Morning Finspiration Report.

 

It's Fat Bear Week in Alaska - Fat Bear Week is a celebration of success and survival. It is a way to celebrate the resilience, adaptability and strength of Katmai’s brown bears. 

hmmm.  Sounds about right for the Stock Market, too.

 

U.S. down heavily overnight.

Dow Jones -1.29%.  SP500 -1.37%.  Nasdaq -1.87%.  Small Caps -1.74%.  Banks -2.13%.

Four out of five of the above indices have RSIs below 30 - that's "very oversold".

SP500.

 The Positive Divergence on the MACD Histogram remains in play and in the past five days a secondary Positive Divergence has shown up, increasing the likelihood of a move back to the upside.

That optimism may be misplaced as the chart seems destined to meet important dual supports, major horizontal support which coincides with the 200-Day MA.  Such support usually wins out.

Commodities.

 Commodities Index -0.44%.  Energy flat +0.11%.  Base Metals -1.8%.  Agriculture -0.97%.  Gold -0.28%.

Sydney Futures - -0.5%