Finspiration Australia. Technical analysis of the Australian and International stock markets.

  23/4/22.  Yesterday in Australia.

XJO fell heavily yesterday -1.57%.  The magnitude of the fall suggests institutions are pulling money out of the market, so more falls can be expected.

   Overnight in the U.S.,  equities continued to fall

 Dow Jones -2.82%.  SP500 --2.77%.  Nasdaq -2.55%.  Small Caps -2.47%.  Banks -2.48%

SP500.

SP500 is now below the Ichimoku Cloud.  Look to sell rallies.

Commodities.

Commodities Index -1.91%.  Energy -1.96%.  Base Metals -1.62%.  Gold -0.97%.

NY Advances-Declines Cumulative.

NY A-D Line remains bearish.  Medium and long-term investors should stay defensive.

VIX.

U.S. VIX appears headed back to the top of its range, which means more falls in Equities.

Finspiration Australia. Technical Analysis of the Australian and International stock markets.

  22/4/22.  Overnight. U.S. equities fall after a good start.

Bearish engulfing candles on all indices.  Dow Jones -1.05%.  SP500 -1.48%.  Nasdaq -2.07%.  Small Caps -1.58%.  Banks -1.81%.

SP500.

At the opening last night in the U.S., SP500 was looking at a confident break-out to the upside, but then the big guys said "No!" and the Index fell for the rest of the session.  Despite the big fall, SP500 remains in its consolidation.  Some indicators are still bullish, some are bearish.  Wait.

Commodities.

Little movement in Energy again last night +0.04% overnight.  Commodities Index -0.14%%.  Base Metals +0.79%.  Gold was down but remains at 20-DMA support, -0.36%.

Iron Ore flat, -0.1%.

Overnight Oz Futures -0.9%.  This suggests a big fall at the beginning of trade in Oz today.

Finspiration Australia. Technical Analysis of the Australian and International stock markets.

XJO improved modestly today.

 XJO was up today, +0.31%, which is a modest rise.  The overall trend remains bullish.

It was an inside day - inside the range of the previous day, which indicates indecision.

The Index is knocking on the line of overbought.  The next movement is likely to be down.

BHP reported this morning, and, like Rio yesterday, its production report indicated a slow-down.  BHP was down -3.06%.  Rio also fell, down -1.64%.  

Finspiration Australia. Technical Analysis of Australian and International Stock markets.

 21/4/22.  Overnight.  Mixed results in the U.S.

Dow Jones +0.71%.  SP500 -0.06%.  Nasdaq -1.22%.  Small Caps +0.71%.  Banks +0.7%.

SP500.

SP500 remains stalled at nearby resistance.  It remains within its consolidation zone.  Wait for a break-out.

Commodities.

Little movement in Energy +0.12% overnight.  Commodities Index +0.11%.  Base Metals -0.77%.  Gold found support at the 20-DMA, +0.49%.

Iron Ore saw little movement, +0.1%.

Overnight Oz Futures +0.3%.  This suggests a modest rise at the beginning of trade in Oz today.

BHP and RIO fell sharply overnight in London after RIO's poor production report yesterday.  BHP -2.9%. RIO -4.8%.  Falls in the U.S. were less exaggerated.  In NY, BHP -1.23% and RIO -2.63%.  Those NY figures are more in line with falls in Australia yesterday, so they may not flow through to Australia.

Finspiration Australia. Technical analysis of the Australian and International stock markets.

 The ASX started strongly today, peaked at about 11.00 a.m., then it was all down-hill, to finish up just +0.05%.  Breadth was poor with Advances 679, Declines 788.

Today's intra-day selling results in a "shooting star" candle which, coming at the top of a trend, often marks the end of the trend.  A big down day tomorrow would confirm the end of the trend.

Finspiration Australia. Technical Analysis of Australian and International Stock Markets.

 20/4/22.  Overnight.  U.S. equities up strongly.

Dow Jones +1.45%.  SP500 +1.61%.  Nasdaq +1.9%.  Small Caps +1.9%.  Banks +2.18%.

SP500.

Despite last night's strong rise, SPX remains in a consolidation pattern.  Some indicators are bullish, some suggest plenty of upside resistance just overhead.  A further break to the upside would overcome the negatives.

Commodities.

I suggested yesterday that further upside in Energy looked in doubt.  Last night, Energy fell heavily, down -3.48%, which took the Commodities Index down with it, DBC -2.57%.  Base Metals also suffered, DBB -1.22%.  Gold -1.51%.

Iron Ore -1.1%.

Overnight Oz Futures up +0.6%.  That should ensure a strong start to the day.

Rio has announced new production results for the first quarter.  Pre-market price for Rio shows a positive expectation for the opening, but BHP is flat, affected by those poor metals and energy prices overnight.  

KKR has made a non-binding offer for Ramsay Health Care of $88 per share.  In the pre-market, RHC is up nearly 25%.  That will have a big effect of the Health Sector (XHJ).

According to Jim Cramer, from CNBC's Mad Money, the U.S. market had no business rising last night with so many negatives against it.  Read his comments here on why it did.

Comments above are my personal ideas and remain probabilistic and contingent.  Do your own research.

Finspiration Australia. Technical analysis of the Australian and International stock markets.

19/4/22.  ASX up strongly today.

 XJO was up +0.56% today, and broke above the recent consolidation zone.

That suggests that the XJO is headed up to horizontal resistance at 7628.  XJO finished today at 7565.  So resistance is not far away.

The ASX continues to be dominated by the inflation scenario.  Materials (XMJ) + 1%.  Energy +1.3%.

Financials (XXJ) benefit from inflation by an improvement in margins.  XXJ up today +0.9%.

Look to a movement up to horizontal resistance on the XJO and then a probable pull-back as the index becomes over-bought.