24/6/23. Saturday Finspiration Report.

 Friday - felt like Armageddon.  XJO down,  Dow down, Nasdaq down, Europe down, Commodities down.

Armageddon - that is - if you're a normal person - but those dark villains on the "short" side (and I'm not talking about Friends of Snow White or Santa's Little Helpers) were chugging Dom Perignon out of crystal slippers previously worn by Princess Beatrice, who is by now sleeping rough in Piccadilly Circus.

XJO down -1.34%.

That takes the XJO down to just below the 200-Day MA - where it's been a couple of times recently - and then recovered.  

Well - anything is possible in this crazy stock market world, but this looks very different from those two previous efforts of flirting with the 200-Day MA.  

In the U.S. last night:

Dow Jones -0.65%.  SP500 -0.77%.  Nasdaq -1.01%.  Mid Caps -1.16%.  Small Caps -1.65%.  Banks -1.08%.

SP500.

SP500 is nowhere near as dire as the XJO.  It is way above the 200-Day MA.

As I've noted in the past, XJO decoupled from the American market a long time ago - that's due to the out-sized influence of Technology on the U.S. market - whereas, the Australian Tech sector has a small impact on our market.  The Oz market is more influenced by the resources sector which depend on China and Japan for markets.

Still, SP500 is showing weekness.  The three indicators in the lower panels are all on sell signals.

Two out of three super-trend lines have turned bearish.  But, the SP500 is back to the mid-line of the Andrew's Pitchfork, which suggests it might find support at that level.  We shall see.

Commodities.

Commodities Index -1.08%.  Energy -0.26%.  Base Metals -1.96%.  Agriculture -1.91%.  Gold +0.28%.

Those Energy and Base Metals prices provide little joy for our resources sectors.

In Sydney, SFE Futures for ASX200 is down -0.23%, which suggests a weak opening on Monday.

Finspiration Australia

 25/4/23.  Tuesday morning Cryptocurrencies.

Four cryptos are covered in this report.  BTC, ETH, ADA, MATIC.  All four are currently on sell signals.  Wait-and-see.

BTC/USD,

BTC/USD remains on "sell" signals.

This crypto is in wait-and-see mode:  a couple of doji candle-sticks indicate indecision as it consolidates at the 50-Day MA. 

CCI has flattened out and DZ Stochastic has also flattened out and close to moving above its lower Zone line.

Money Flow is down almost to 20 - an oversold zone.

A break below the 50-Day MA would see further movement to the downside.  Buyers should look for a bounce off the 50-Day MA.

ETH/USD

Similar to BTC, ETH/USD is on sell signals.

The chart shows two doji candle-sticks in a row - indecision and the chart is sitting just above its 50-DMA.

A break below the 50-Day MA = more selling.

A bounce off the 50-DMA - probably a buy.  Wait-and-see.

ADA/USD

ADA/USD has a similar profile to BTC/USD,  but, perhaps, a little stronger than BTC.  It remains on sell signals.

This crypto is sitting a little above its 50-Day MA, so the same comments for BTC apply to ADA.  Bounce - and it is probably a buy.  Fall through 50DMA - probably more selling.

MATIC/USD.

Matic/USD is a little weaker than either BTC or ADA having fallen through its 50-DMA.

Leading indicators suggest, however, that the break below the 50-DMA could be a false break.

CCI is showing a clear positive divergence and minor positive divergences on RSI and DZ-Stoch.

Wait-and-see how this pans out.