20/4/22. Overnight. U.S. equities up strongly.
Dow Jones +1.45%. SP500 +1.61%. Nasdaq +1.9%. Small Caps +1.9%. Banks +2.18%.
SP500.
Despite last night's strong rise, SPX remains in a consolidation pattern. Some indicators are bullish, some suggest plenty of upside resistance just overhead. A further break to the upside would overcome the negatives.
Commodities.
I suggested yesterday that further upside in Energy looked in doubt. Last night, Energy fell heavily, down -3.48%, which took the Commodities Index down with it, DBC -2.57%. Base Metals also suffered, DBB -1.22%. Gold -1.51%.
Iron Ore -1.1%.
Overnight Oz Futures up +0.6%. That should ensure a strong start to the day.
Rio has announced new production results for the first quarter. Pre-market price for Rio shows a positive expectation for the opening, but BHP is flat, affected by those poor metals and energy prices overnight.
KKR has made a non-binding offer for Ramsay Health Care of $88 per share. In the pre-market, RHC is up nearly 25%. That will have a big effect of the Health Sector (XHJ).
According to Jim Cramer, from CNBC's Mad Money, the U.S. market had no business rising last night with so many negatives against it. Read his comments here on why it did.
Comments above are my personal ideas and remain probabilistic and contingent. Do your own research.
