Finspiration Australia. XJO in a choppy session but up modestly. 2/3/22

XJO up today +0.28%.

 Although XJO finished up today, the candle is an "inside day", which means that today's intra-day high was below yesterday's intra-day high.

Plenty of overhead resistance remains, which means the path of least resistance is to the down-side.

Today's market was unbalanced.  Energy +4.88%.  Materials +3%.  They were the big winners today.  Only two other sectors were up.  Utilities (dragged up by Energy) +0.84%, and Information Technology +0.02% - basically flat.

Financials took a big hit, -1.44%.

The unbalance in the market was felt in breadth.

NewHighs-NewLows -18.  UpStocks-DownStocks -158.

Unless the market is supported by breadth, it is in danger of falling.

NH-NL Cum Chart:

While NH-NL Cum remains below its 10-Day MA, I'll remain bearish.

Finspiration Australia. Morning summary, 2/3/22.

 XJO once again defies a fall in the U.S. Market.  XJO was down heavily in the first half-hour but has since rebounded.  Now up +0.21%.  5-Day chart below.

But ... the market is very lopsided.  Energy up +3.62%.  Materials up +2.61%.  Then it tails off quickly.

Utilities +0.22%.  Health Care +0.06%.  Consumer Staples +0.07%.

Every other sector is down.  Real Estate, Financials, Consumer Discretionary all down more than -1%.  Communication Services down -0.99%.

The resource sectors are benefitting from the geopolical problems in Eastern Europe.  (That's a euphemism for WAR.)

Finspiration Australia. U.S. stocks fall overnight. 2/2/22.

 Overnight.

Dow Jones -1.76%.  SP500 -1.55%.  Nasdaq -1.59%.  Small Caps -1.9%.  Banks -5.72% (ouch).

SP500.

The three-day candle stick pattern (up,doji,down) suggests the short-term trend has now reversed to the downside.  There's just too much overhead resistance to think about going long this market.

Commodities.

Commodities Index +4.02%.  Energy +5.06%.  Base Metals +1.84%.  Gold +1.82%.

Commodities continue to benefit from fear over the geopolitical events in Eastern Europe.

Iron Ore +3.8%.

After twenty minutes of trading this morning, XJO is down -0.6%.

Finspiration Australia. XJO up strongly but suffers afternoon selling.

XJO finished up +0.7% today, but -0.8% off its high.

 XJO had a strong rise in the early part of the day but hit resistance of the 20-Day MA and Supertrend 7,1.5). That kept it below the recent consolidation zone - another set of resistances.

We have to see much more upside before we can consider bullish placements.

Growth Sector Information Technology (XIJ) benefitted today lower bond yields in overnight markets.  XIJ up +5.66%.

The Russian invasion of Ukraine remains an uncertain back-drop to Australian and international markets.

Currently, markets seem to be optimistic that the Ukraine situation won't derail economic and stock markets in the Western World.

Finspiration Australia. Mid-afternoon update.

 RBA holds rates steady.  XJO currently up +0.8%, down -0.7% from its high today.

For Day Trading, exit time for bulls was around 1.00 p.m Eastern Summer Time.

Finspiration Australia. Mixed results in U.S. after last 30 min. surge in prices.

 Overnight:

Dow Jones -0.49%.  SP500 -0.24%.  Nasdaq +0.41%.  Small Caps +0.41%.  Banks -1.31%.

SP500.

Despite the small drop last night, the short-term up-trend remains in place.  The index still has plenty of overhead resistance, but the Supertrend (7,1.5) has turned bullish - that's a good short-term signal.

Commodities.

Commodities Index +1.7%.  Energy +1.13%.  Base Metals +0.87%.  Gold +1.04%.

After ninety minutes of trading this morning, XJO is play ing catch-up with the U.S. from last Friday.  XJO now up about +1.3%.

Finspiration Australia. XJO up strongly today.

 XJO up today +0.73% after nudging into negative territory at 11.15 a.m.  Around 11.00 is often a rebound time for the XJO intra-day.

In context, today's positive result was not impressive.

The XJO remains in bearish conditions.  This remains a "sell-the-rallies" market.

The best performing Oz sectors are Energy (XEJ +1.3%) and Materials (+3%).