Finspiration Australia. World markets mixed. ASX down. Europe up. America down. 12/3/22.

 Yesterday in Australia.

XJO down-0.94% on Friday.  It remains in its consolidation zone.

The path of least resistance is to the downside.

Overnight.

Dow Jones -0.69%.  SP500 -1.3%.  Nasdaq -2.18%.  Small Caps -1.15%.  Banks -1.11%.

All eleven U.S. Sectors were down.

German DAX +1.38%.  French CAC +0.85%.  U.K. FTSE +0.8%.  Europe STOXX600 +0.95%.

SP500

SP500 remains in a short-term consolidation.  The path of least resistance is to the down side.

NYAD Cumulative.

New York Advances-Declines is often a good leading indicator.  The current correction from early Jan. in SP500 was preceded by a negative divergence in A-D Cum from Nov. to Jan.  

NY A-D Cumulative remains in a strong down-trend.  Until we see improvement in NY A-D Cum it is unlikely we'll see an improvement in SP500.

Commodities.

Commodities Index +1.72%.  Energy +2.6%.  Base Metals +0.44%.  Gold -0.7%.

Those improvements in Energy and Base Metals could give a lift to the Oz market on Monday.

Finspiration Australia. Overnight U.S. markets fell. 11/3/21.

Overnight. 

Dow Jones -0.34%.  SP500 -0.43%.  Nasdaq -0.95%.  Small Caps -0.13%.  Banks -1.14%.

SP500.

SP500 has pulled back a little after yesterday's big rise.  That's probably a result of exhaustion and "smart money" trying to shake "weak hands" out of the market after they entered yesterday.  Wednesday's "kicker" candle was a strong indication that SP500 is at the start of a short-term move to the upside.

But, strong resistance remains overhead.  Until that is overcome - long-term investors might stay their hands until thi markets becomes bullish.

Commodities.

Commodities Index -1.2%.  Energy -1.81%.  Base Metals +2.34%.  Gold +0.31%.

Iron Ore down -0.8%.

After 40 minutes of trading this morning, XJO is up modestly +0.3%.  That's largely due to the miners with Materials up +1.44%. Commodities fell largely under the pressure of further falls in Oil.  Energy appears to be finding support at the 20-Day MA, so we might see a rebound here.

Finspiration Australia. XJO up strongly today. 10/3/22.

 XJO up today +1.1%.

The index remains in its sideways consolidation and continues to have strong overhead resistance.

Action today was potentially bullish as we saw lots of switching out of previously strong sectors boosted by the war in Ukraine (Energy -2.5%) and Materials -1.8%) and into sectors less affected by the Ukraine War: Financials +2.8%, Information Technology +3.3%, Industrials +2.7% and Property +2.5%.

The fall in Materials (XMJ) was exaggerated by RIO going ex-dividend.  RIO was down -7.7% but ~6% of that fall can be attributed to the ex-dividend effect.  

MYR (Myer) was a stand-out today, surging +24.4%.  That is a reversal of its down-trend which started in September 2021.

Finspiration Australia. Overnight - Commodities down, stocks up.

 Overnight.

Dow Jones +2%.  SP500 +2.57%.  Nasdaq +3.59%.  Small Caps +2.11%.  Banks +4.15%.

SP500. 

Yesterday's "tombstone'' candlestick suggesting the end of the pull-back played out today with a big upside move.  Expect a test of the most recent high at 4417.  SP500 finished at 4278 today.

Commodities.

The exponential rise in Commodities is over.  What normally happens after a big fall like this is we get a bounce and the "crowd" believes that the charts will go back up to new highs.  But the rug is pulled from under their feet by the "smart money" and you get a lot of trapped bulls, who must then sell as quickly as possible to avoid further losses, accelerating the downside move.

Commodities Index -7.94%.  Energy -11.2%.  Base Metals -8.37%.  Gold -2.97%.

I said recently that this rise would end badly - last night was just plain ugly.

Iron Ore -2.9%.

After 90 minutes of trading today, XJO up about +1%.  Energy and Materials have slumped, but Financials and Information Technology are doing exceptionally well.

Finspiration Australia. XJO up strongly today. 9/3/22.

 XJO up +1.04%.

Today's candle is a bullish engulfing candle which indicates more upside in the near term.

It is clear that XJO is in an indecisive sideways consolidation.  Until it breaks out above overhead resistance, it is best to consider any upside moves as counter-trend rallies.

We did see some bullish rotation today into recently less attractive sectors.  Financials (XXJ) up +1.53%.  Communication Services (XTJ) up +2.42%.  Information Technology (XIJ) up +3.19%.  Consumer Discretionary (XDJ) up +1.82%.

The recent darlings of the market haven't done relatively so well.  Energy +0.14%.  Materials +0.53%.  Those are positive figures but not nearly as good as the other figures above.

That augurs well if this trend continues.

Finspiration Australia. Nasdaq near to bear market territory.

 Overnight.

Dow Jones -0.56%.  SP500 -0.72%.  Nasdaq -0.28%.  Small Caps +0.38%.  Banks +0.63%.

SP500.

SP500 remains in bearish mode.  Last night's candle (tombstone) could signal the end of the current short-term downside movement.  We need to see an upside move in the next session to confirm.

Commodities.

Commodities Index +1.7% continues higher under pressure from Energy +2.98% affected by the ongoing war in Ukraine.  Base Metals had plenty of intra-day buying, down -0.22%.  Gold (safe haven) continued higher also, + 2.74%.

One day, suddenly, we'll see Energy and Gold reverse sharply.

Iron Ore -0.3%.

XJO started in negative territory this morning, but, after one hour of trading, is up about +0.7%.  That augurs well for the U.S. tonight.

Finspiration Australia. XJO down for third day. 8/3/22

XJO finished down -0.83%.

 XJO is now testing the most recent low.  That will probably result in a bounce here.

Plenty of overhead resistance remains, so any rally will be a sign to sell in to.

The only Sectors up today were Health (XHJ +1.*%) and Consumer Staples (XSJ +1.7%). The big push behind our market saw weakness today.  Energy(XEJ)  -3.6% and Materials (XMJ) -3.3%.  So the big money is switching out of the drivers of our market despite positive results overnight in Energy an Iron Ore.