Finspiration Australia

 Fri. a.m. 4/2/22.  U.S. Stocks break down from short-term trend.

Overnight.

Dow Jones -1.45%.  SP500 -2.44%.  Nasdaq -3.74%.  Small Caps -1.45%.  Banks -1.04%.

SP500.

This down-side move is an emphatic rejection of the recent short-term up-trend.

SP500 gapped down at the opening and continued to move lower.

The two-day candle-stick pattern is known as a "bearish kicker" pattern.  The first day is an upside move, followed by a gap down and further down-side.  This is a strong bearish signal.

Commodities.

Commodities Index +0.22%.  Energy +0.5%.  Base Metals -0.26%.  Gold showed intra-dy buying but finished lower -0.14%.

Iron Ore +4.2%.

The Australian market opened lower but then moved higher.  After 40 minutes of trading, XJO is up a little +0.14% The reversal to the upside has been led again by reports in America, with Amazon soaring after a good report announced after the U.S. market closed.

Finspiration Australia

 Thu. p.m. 3/2/22.  XJO falls modestly.

XJO printed an inside-day, narrow-range, indecisive candle today.

It started off negatively after U.S. Futures fell on poor reporting results from Facebook.  It recovered some of that intra-day, but generally, the market was going nowhere.

The big miners were the mainstay of our market today..  BHP up +3.1% and Rio up +2.4%.

Banks were a mixed bag with CBA down -1.4%, while WBC went the other way +2.3%.  It's unusual to see the big banks so out of sync.

Information Technology was again the worst performing sector -5.9%.  Health also did poorly -1.5%.

Tomorrow could be a crucial day for the XJO.  After an indecisive day today, if we get a big down day tomorrow, then we could be looking at a lot more downside.

Currently, European markets are ambiguous, with the UK flat, but Germany is showing a loss of about -0.4%.

Finspiration Australia.

 Thu. a.m. 3/2/22.  U.S. stocks up for fourth day in a row.

Overnight.

Dow Jones +0.63%.  SP500 +0.94%.  Nasdaq +0.5%.  Small Caps -0.51%.  Banks +0.4%.

SP500.

Short-term trend remains up.  Medium-term trend is undecided.

SP500 is now into the Ichimoku Cloud and below the 50-Day MA.  This puts it into the undecided zone.  Wait.

Commodities.

Commodities Index +0.4%.  Energy +1.03%.  Base Metals -0.17%.  Gold +0.36%.

No data for Iron Ore as China is on holidays.

After 50 minutes of trading this morning, XJO is down about -0.5%.

Meta (aka Facebook) reported after the market closed with disappointing results.  It fell more than 20%.  Futures in America fell, which explains the fall in the first hour of trading in Australia.

Finspiration Australia

 Wed. p.m. 2/2/22.  Another strong day for Australian stocks.

XJO Chart.

XJO is experiencing a counter-trend rally.  Longer term trends remain bearish.  Until a lot more upside occurs, we have to maintain that we are in a "sell-the-rally" scenario.

The big falls in January did a lot of technical damage to the market.  A counter-trend rally was not unexpected.  It could continue, but the odds are against it at this stage.

Tonight in the U.S. (Oz time) the ADP employment report is published.  This is a monthly report and closely followed for economic trends.  It always has the potential of being market moving if it throws up an unexpected number.

 

Finspiration Australia.

 Wed. a.m. 2/2/22.  U.S. stocks up again.

Overnight.

Dow Jones +0.78%.  SP500 +0.69%.  Nasdaq +0.75%.  Small Caps +0.75%.  Banks +2.39%.

SP500

After three days up, SP500 is now at its first serious resistance level, 20-Day MA and the lower edge of the Ichimoku Cloud.  Expect a pause here or a slowing in upside momentum.

Commodities.

Commodities Index +0.4%.  Energy +0.1%.  Base Metals +1.19% (bouncing off support of the 20-Day MA), Gold +0.08%.

Iron Ore - no change as China is shut for Chinese New Year holidays.

After 50 minutes of trading, XJO is up +0.9%.  VIX is up modestly, so we might see the XJO settle back now.

Finspiration Australia.

Tue. p.m. 1/2/22.  Australian RBA holds rates steady, but pulls away the monetary stimulus.

That's called two-bob each-way, in the old race-track parlance.

XJO today:

 XJO had a moderate rise today of +0.49%.  XJO remains below many overhead resistance.

Today's announcement by the RBA brought a flurry of short-term upside moves in the XJO at 2.30 p.m., but that soon evaporated about 3.00 p.m.

At the close, XJO is back close to where it was at 2.30 p.m.

Forget about the RBA announcement, the big mover in our market today was the Miners.  Materials (XMJ) was down -1.21%.  That put a damper on our market today.

International effects are much more important to the Australian market than anything the Federal Government or the RBA can do.

Finspiration Australia.

 Tue. a.m. 1/2/22. U.S. markets up strongly.

Overnight.

Dow Jones +1.17%.  SP500 +1.89%.  Nasdaq +3.41%.  Small Caps +2.15%.  Banks +0.42%.

SP500.

The short-term trend is up.  Longer term trends remain bearish.  Wait.

Commodities.

Commodities Index +0.36%.  Energy +0.72%.  Base Metals -0.65%.  Gold +0.59%.

Iron Ore -4.2%.

Those Iron Ore and Base Metals prices will put our miners under stress today.

RBA meets today to decide interest rates.  No change is expected.

After 40 minutes of trading XJO is up +0.35%.