Inspiration Australia.

4/4/23. Tuesday Morning Finspiration Report. 

Overnight in the U.S.:  Dow Up, Nasdaq down.  Oil up.

Dow Jones +0.96%.  SP500 +0.37%.  Nasdaq -0.27%.  Small Caps +0.05%.  Banks -0.55%.

SP500.

SP500 remains bullish but somewhat extended to the upside.  Dips will probably be bought.

Stay with the trend.

Nasdaq.

Nasdaq had a small pull-back last night at a major resistance level.  MACD is showing a big negative divergence from the chart.  Expect some downside to the Nasdaq in the near term.

Commodities.

Commodities Index +1.64%.  Energy +3.24%.  Base Metals -0.89%.  Agriculture +0.1%.  Gold +0.72%.

After ten minutes of trading this morning, XJO is is flat +0.07%.

Bitcoin (USD)

A wide double top may be forming in BTCUSD.  

Indicators (lower panels) are all heading down.  

The short-term line is headed down.  The Crypto finished last night below the 8-Day EMA.

All that suggests more downside if the current horizontal support breaks.  Take care.

Finspiration Australia. Chart Analysis of Australian and International Stock Markets

 Overnight.

NYSE closed overnight.

In Europe stocks rose strongly with EuroStoxx600 up +1%.  German DAX +1.06%.  Bank stocks up about +3%.  

DAX remains in non-trending mode with both Span A and Span B of the Kumo Cloud parallel to each other.  

Commodities.

Brent Crude Oil +0.9%.  Copper -0.3%.  Iron Ore -2.6%.  

In the U.K. BHP fell -1.6% and Rio -1%.  Those figures aren't too bad as in Australia yesterday BHP fell -5.3% and Rio -5.06%.

Overnight Oz Futures are up +47 points or +0.7%.

Yesterday in Australia, XJO down -0.64%, so our market on present indications should gain back most of yesterday's losses.