Finspiration Australia. XJO suffers an intra-day reversal.

 XJO finished down today -0.2%, breaking a surge of seven up days.  XJO was up early in the day, but an afternoon reversal cratered the index.

XJO has bad a great run recently so a pull-back is not to be unexpected.  The negative divergence on the CCI has been signalling the possibility of a pull-back.

XJO has plenty of down-side support.  So any pull-back is likely to be bought.

Nine sectors were down today.  The stalwart in the market was Materials, up +1.5%.

Finspiration Australia. U.S. equities down. Tech hard hit.

 Overnight.

Dow Jones -0.19%.  SP500 -0.63%.  Nasdaq -1.21%.  Small Caps -1.84%.  Banks -2.21%.

European stocks also fell, with STOXX600 down -0.4%.

SP500.

Last night's action looks like the start of a pull-back portended by the negative divergence on the CCI.  Traders will look to buy the dip - a likely support is the Ichimkoku Cloud and the 200-Day MA.

Commodities.

Commodities Index +1.8%.  Energy +1.91%.  Base Metals +2.23%.  Gold +0.8%.

Iron Ore +0.4%.

Those good Commodity and IO figures should give Ozzie resources a boost today.

Overnight Oz Futures are up a little, 10 points or +0.1%.

Overnight, BHP was up +3.1% in the U.S. after falling yesterday in Australia just a little -0.08%.

Finspiration Australia. XJO up again today.

XJO up today +0.67%.

XJO is in a strong up-trend.  The question is:  How much longer can this up-trend continue?

Today was the seventh day up in a row.  RSI is now pressing on overbought.  RSI now 69.83.  Overbought is considered above 70.

CCI continues to show a negative divergence.  It is often early, but rarely wrong.

This strong rally is close to an exhaustion point.
 

Finspiration Australia. U.S. equities rise strongly. 30/3/22.

 Overnight.

Dow Jones +0.97%.  SP500 +1.23%.  Nasdaq +1.94%.  Small Caps +2.39%.  Banks +0.9%.

SP500.

SP500 opened with a gap up and continued higher for most of the day.  Ichimoku Indicators are all bullish.

I'm no Elliott Wave expert, but this looks to me like Wave 5 (ending wave) of a five wave impulsive move.

CCI maintains a negative divergence, but RSI still hasn't hit oversold, so there could be more in this yet.

Commodities.

Commodities Index up +0.38% on the back of stronger Energy +1.73%.

Base Metals fell -1.8% but seems to be finding support at the 20-Day MA.  Gold +0.04%, rose intra-day after finding support at the 50-Day MA.

Iron Ore +0.2%.

After 40 minutes of trading this morning, XJO is up +0.7%.  Sector doing best is Information Technology +3.2%.

The market seems to have no concern about the impending interest rate rises.

Finspiration Australia. XJO up six days in a row. 29/3/22

 XJO up today +0.7%.

XJO continues its bullish rally and is clearly in a bullish PRT Zone.

RSI is getting close to overbought and a negative divergence on CCI portends a pull-back in the near future.

XJO is now at a major horizontal resistance level.  It may pause here, but another test of the early January high may be in the offing.

Stocks/Bonds Ratio chart continues to rise to levels not seen for many months.  So a pull-back in stocks is not far off.

Breadth continues to be bullish.

I'm concerned by this chart.  Although bullish, the chart is not particularly strong.  It appears to be in a sideways consolidation, not in keeping with the XJO chart.  That's a concern.

Finspiration Australia. U.S. Equities finish on the positive side again.

 Overnight.

Dow Jones +0.27%.  SP500 +0.71%.  Nasdaq +1.31%.  Small Caps -0.41%.  Banks -1.16%.

SP500.

SP500 continues to push above the 200-DMA and the Ichimoku Cloud.  

Negative divergence on the CCI suggests we're in for a pull-back.  Given the overall bullish character of the SP500, any pull-back is likely to be bought.

Commodities.

Commodities Index -4.34%.  Energy -6.55%.  Base Metals +0.31%.  Gold -1.82%.

Iron Ore -0.1%.

XJO should have another positive day today but the oil producers won't be happy.

Overnight Oz Futures +0.5%.

Yield Curve.

The yield curve is flattening out and likely to invert.  Investors are getting about the same return on a 30-Year Government Bond as a 2-Year return.  

An inverted yield curve often predicts a coming recession.

For a recent analysis of this feature see this article from CNBC:  https://www.cnbc.com/2022/03/28/bond-market-is-flashing-a-warning-sign-that-a-recession-may-be-coming.html

Finspiration Australia. XJO suffers intra-day selling to erase early gains. 28/3/22

 XJO finished flat today +0.08%.

Today's candle is a narrow-range tombstone candle.  Coming at the top of the rally, that suggests we'll see some downside.  XJO has plenty of downside support, so any pull-back is likely to be bought.

Breadth today was poor.  Despite the flat finish, Advances 592, Declines 880.

The market was kept up today by Materials +1.29% and Financials +0.58%.  Given that those two sectors make up about 40% of our market, the rest must have been sick.  Unbalanced markets usually fall to the downside.