Finspiration Australia. Mixed results overnight in the U.S. Industrials up, Tech down. 9/4/22.

 XJO yesterday.

XJO is in a short-term pull-back with both Hull MA13 and Supertrend (1.5/7) turning to blue (bearish.

On Thursday, XJO fell below the first line of horizontal support and the 8-Day EMA, but Friday saw it climb back above both of those levels.  This remains indecisive, another day to the upside is needed to confirm the end of the pull-back.

Overnight.

Dow Jones +0.4%.  SP500 -0.27%.  Nasdaq -1.34%.  Small Caps -0.6%.  Banks +0.81%.

SP500.

SP500 is in a short-term pull-back with three chart indicators into bearish space: Hull MA13, Supertrend (1.5/7) and 8-Day EMA.

The index sits precariously on the 200-Day MA which is often taken as the dividing line between a bearish and bullish market.

This could go either way.  Wait.

Commodities.

Commodities Index +1.25%.  Energy +1.16%.  Base Metals +0.62%.  Gold +0.63%.

Those commodity prices are positive for our energy and mining stocks on Monday.

NY ADVANCES-DECLINES LINE.

NY A-D Line is back below both its 10-Day and 20-Day MAs.  That's in line with the current pull-back in the SP500.  Wait for a move to the upside.

Finspiration Australia. Major U.S. indices rebound after two days of losses.

 Overnight.

Dow Jones +0.25%.  SP500 +0.43%.  Nasdaq +0.06%.  Small Caps -0.08%.  Banks -0.7%.

Indices were well down in early after-noon trading, but markets rebound to erase early losses.

SP500.

SP500 remains sitting on support of the 200-Day MA and the upper line of the "Cloud".

We need to see further upside to presume the pull-back is over.

Commodities.

Commodities Index +0.34%.  Energy +0.6%.  Base Metals -1%.  Gold +0.38%.

Iron Ore -2.1%.  Thermal Coal -1.7%.

Overnight Oz Futures +0.5%.

XJO should have a better day today, but those metals prices might put a cap on the miners.

Finspiration Australia. XJO down for second day.

 XJO down today -0.63%.

Today, XJO broke below both the Supertrend (1.5/7) and the Tenkan Sen.  Both of those are short-term sell signals.

Today three sectors were up.  Real Estate +0.12%, Utilities +0.12%, Consumer Staples +0.55%.  All of those are defensive sectors.

The sector most vulnerable to interest rate rises is the Information Technology Sector (XIJ), down today -3.42%.

I'm expecting more downside, but the 200-Day MA might provide support.

Finspiration Australia. Major U.S. Indices fall to 20-Day MA.

 Overnight.

Dow Jones -0.42%.  SP500 -0.97%.  Nasdaq -2.22%.  Small Caps -1.16%.  Banks -1.36%.

Today's action in the major indices saw gap down openings, leaving big island reversal patterns.

SP500.

SP500 chart is now showing two short-term sell signals.  It is below the Tenkan Sen (Conversion Line) and the Supertrend (1.5/7) has switched from bullish to bearish.

The index finished marginally below the 200-Day MA and, as noted above, is down to support of the 20-Day MA (not shown on this chart).  The Index is sitting on the top line of the "Cloud" so this could provide support.

Commodities.

Commodities Index -0.79%.  Energy -1.36%.  Base Metals -0.31%.  Gold +0.23%.

Iron Ore -1.4%.

None of the above looks positive for the Australian market today.  XJO after 40 minutes of trading is down -0.6%.  Every sector except Consumer Staples is currently negative.

Finspiration Australia. XJO down but not out.

 At one stage today, XJO was down -1.2%, but finished down -0.5%.  It clawed its way back off the canvas after receiving a knock-out blow in the early period of trading.

XJO fell below a couple of major supports, the 8-Day EMA and horizontal support but finished above both of those today.  Not a bad effort.

But, we do have the first real evidence of a pull-back with the Hull MA13 switching from yellow to blue, i.e. bearish.  That's the most short-term indicator on the index chart.

RSI has turned down and the CCI has been falling since mid March.  It is often early but rarely wrong.

Best performing sector today was Financials (XXJ) up +0.7%.  Without that, it would have been carnage on our market today.

In early overnight trading, Europe is down, Germany about -1% and UK -0.2%.  That may not be a good indicator of what will finally happen tonight as the Europeans are following the negative results rolling around the globe after the U.S. fell last night.  It all depends on the U.S. tonight.  But the intra-day buying in Australia was a positive.

Finspiration Australia. U.S. stocks and bonds both down. 6/4/22.

 Overnight.

Dow Jones -0.8%.  SP500 -1.26%.  Nasdaq +2.26%.  Small Caps -2.26%.  Banks -1.01%.

SP500.

Tuesday's fall eclipsed the good rise on Monday.  SPX has broken below the first line of support, the Tenkan Sen (Conversion Line).  Plenty of support lies nearby, the 200-Day MA and the top of the "Cloud".

Commodities.

Commodities Index -0.82%.  Energy -1.71%.  Base Metals +0.12%.  Gold -0.63%.

Iron Ore -0.2%.

Overnight Oz Futures -0.7%.

ASX should open on a weak note today.

Finspiration Australia. XJO up today but suffers late-day sell-off.

XJO up today +0.19%.

 XJO saw a lot of intra-day selling in the afternoon.  That continues a series of doji candle sticks which suggest this is a topping pattern.

The XJO starting falling around 2.30 p.m. announcement by the RBA of its interest rate announcement.  The RBA kept interest rates at their current historical lows but indicated they could raise rates in coming months.

Given the current elevated nature of the XJO rally, that was sufficient to produce a sell-off in the XJO.

Below is a daily chart of the XJO:

XJO starte is descent before mid-day - it probably sensed a negative tone to the RBA announcement.  When the announcement came out - the XJO tanked.

We've had a series of lack-lustre candles in recent days.  A down day would put out market into a serious decline.