Thu. p.m. 16/12/21.  Despite strong gains overnight, the Australia market fell today.

XJO down today -0.43%.

XJO remains in a short-term down-trend, but in a medium-term sideways consolidation, basically going nowhere.

Today wasn't as bad as the raw figure for the XJO suggests.  Breadth was OK, with NH-NL = 15, and Advances -Declines = +97.  CSL was a big drag on the system today.  CSL -8.2%.  CSL is the third largest stock on the ASX200.  BHP fell -1%. CBA -0.1%.  Small Caps were up +1.8%.  Mid-cap 50 was up +0.15%.  So, it was a case of some large cap stocks falling while the rest of the market showed resilience. Not too bad in the scheme of things.

 Thu. a.m. 16/12/21.  U.S. Stocks rise strongly after Fed. decision announced.

Overnight:

Dow Jones +1.08%.  SP500 +1.63%.  Nasdaq +2.15%.  Small Caps +1.27%.  Banks +0.18%.

Major indices were hovering in negative territory before the Fed. decision was announced, but then rose strongly after the announcement.

SP500:

SP500 has bounced strongly off support and now close to a new record closing price.  Stay with the trend which is up.

Commodities:

Commodities Index +0.5%.  Energy +1.16%.  Base Metals -0.1%.  Gold +0.43%.

Iron Ore.  +1.3%.

Overnight Oz Futures +0.5%.

Despite all of the above good news, XJO is down a little just 15 minutes after trading -0.02%.  Maybe we'll see a rebound here.

 

 Wed. p.m. 15/12/21.  XJO falls on Fed jitters.

XJO down heavily -0.7%.

XJO is back to support of the Tenkan Sen and Kijun Sen.  Trend Finder is still negative.

In the larger scheme of things, XJO has been trading sideways for about three months.  Until that sideways range is resolved, it's best to stay away from new commitments in this market.

 Wed. a.m. 15/12/21.  U.S. Stocks down for 2nd day.

Overnight:

Dow Jones -0.3%.  SP500 -0.75%.  Nasdaq -1.14%.  Small Caps -0.58%.  Banks +1%.

SP500.

SP500 finished down heavily but there was plenty of intraday buying (long lower wick on today's candle).  

The above chart is an Ichimoku Chart which has a variety of support and resistance levels.  SP500 today found support at the Tenkan Sen and Kijun Sen.  Trend Spotter remains bullish, but SP500 needs to bounce here.

(Ichimoku is a complex technical analysis system developed by a Japanese journalist who worked on the system for over 20 years before publishing in 1968.  Elements of the system can be found on Investopedia.)

Commodities.

Commodities followed stocks lower.  Commodities Index -0.89%.  Energy -1.33%.  Base Metals -1.08%.  Gold -0.93%.

Iron Ore -1.8%.

None of the above looks hopeful for our market today.  Overnight Oz Futures down -0.4%.

The American Federal Reserve will hand down a decision on interest rates tonight (Australian time).  The announcement may be a catalyst for movement in the American stock market.  With American inflation now running at about +6%, the Fed must be getting worried.

 Tue. p.m. 14/12/21.  XJO flat today.

XJO was flat today, down just -0.01%.  That was a creditable effort given the poor performances overnight from the U.S.

The long lower wick on today's candle shows intra-day buying.  XJO was down about -0.4% in early trading.

In the broader scheme, XJO remains in a choppy sideways consolidation.  Until we see a break-out from that sideways consolidation, it's best to hold fire.

 Tue. a.m. 14/12/21.  U.S. stocks retreat.

Overnight:

Dow Jones -0.89%.  SP500 -0.91%.  Nasdaq -1.39%.  Small Caps -1.71%.  Banks -2.29%.

Santa Rally on hold for now.

SP500.

Today's candle is a bearish engulfing candle which usually suggests more downside.  Plenty of support remains nearby, so this is probably a buy-the-dip time.

Commodities.

Commodities Index -0.49%.  Energy -0.96%.  Base Metals +1.1%.  Gold +0.25%.

Iron Ore +7.4%.

After 15 minutes of trading this morning, the market is down -0.45%.  The "big boys" that dominate the after-market auction were right again yesterday - they were getting out, pre-empting today's early fall.

 Mon. p.m. 13/12/21.  XJO had a positive rise today.

XJO up today +0.35%.

0.35% represents a modest rise.  The Index was up quite substantially at 4.00 p.m., but fell heavily in the after-market auction, down about -20 points.  That erased about 40% of the day's gains.  

After market action is not always a good guide.  So we'll take today's gain as a positive.

Barchart's Trend Finder is still registering "bearish".

Overseas markets, at this early stage, are showing modest gains with UK FTSE up 0.14%, German DAX up +0.15% and US Futures up 0.27%.  Those figures, this early in trading, don't guarantee any kind of positive action tonight.