FINSPIRATION AUSTRALIA. Sat. 11/11/23.

 American Indices up strongly on Friday night.

Dow Jones +1.15%.  SP500 +1.56%.  Nasdaq +2.05%. Small Caps +1.02%.  Banks +1.08%.

SP500

 SP500 pulled back on Thursday, testing the 50-Day MA.  Friday's strong up candle is a continuation of the trend.  Nest resistance level is the top of the Value Zone and the next hig volume node, around 4450 in round numbers.

Volume was on the low side on Friday, resulting in a negative divergence appearing on the Force Index - volume needs to increase if this rally has legs.

The coming week is Options Expiry Week in the U.S. which has a bullish bias.

Commodities.

 Commodities Index +0.5%.  Energy +1.41%.  Base Metals -0.86%.  Agriculture -0.41%.  Gold -1.09%.

That's a mixed picture for Australian Resources on Monday with Energy up and Base Metals down.

In New York, BHP flat -0.12%.  Rio -1.16%.  Woodside continued to collapse -2.23% on heavy volume.  So we might be seeing a culmination of the downtrend in WDS.  Westpac down -1.56%.

Those New York stock figures look bearish, but Ozzie Futures were up +0.31% overnight, so we should have a positive day on Monday following U.S. up.

STW (ETF FOR XJO)

Thursday's bearish reversal candle played out with a down day for the STW and XJO on Friday.  That brings STW back to support of the Point of Control, the long gray bay on the Volume Profile on the left of the chart.  With a good result in the overnight Ozzie Futures we should have a positive day on the ASX bouncing off support.  We need to see a close above Thursday's high to give another "buy" signal.  That might be a bit of an ask.  That would need a rise of about +1% on the STW.