Finspiration Australia. Chart Analysis of the Australian and International Stock Markets.

Yesterday in Australia. 

XJO up strongly yesterday +1.93%.  The bullish engulfing candle combined with positive divergence on the CCI promises more upside.  This should produce at least a counter-trend rally - but I'm not expecting a change to overall bear market conditions.

Overnight in the U.S.

The positive action in Australia yesterday flowed around the world with Europe up more than +2% and the U.S. up strongly.

Dow Jones +1.47%.  SP500 +2.39%.  Nasdaq +3.82%.  Small Caps +2.4%.  Banks +1.09%.

SP500.

Last night saw good carry-through buying from the previous session's intra-day buying.

A counter-trend rally is in place.  1st Horizontal Resistance Level is at 4170; 2nd Horizontal Resistance Level is at 4306.  If 2HR is reached, that would represent a rise of +11.6%.  1HR would be +8.1%.

Commodities.

Commodities Index +1.37%.  Energy +1.42%.  Base Metals +1.47%.  Agriculture +0.96%.  Gold -0.81%.

NY Advance-Decline Line.

NYAD remains in a long-term down trend.  Until we can see that down trend reversed, long-term investors should remain defensive.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets.

 Friday, 13/5/22.  Watch for falling pianos.

Overnight.

Dow Jones -0.33%.  SP500 -0.13%.  Nasdaq +0.06%.  Small Caps +1.22%.  Banks -0.59%.

SP500.    

Sp500 is in an exponential fall.  Exponential movements are difficult to predict but usually end with a sharp spring-back in the opposite direction.

The Index is oversold, with a positive divergence on the CCI, so a bounce is on in the near term.

Commodities.

Commodities Index +0.47%.  Energy +0.81%.  Base Metals -1.89%.  Agriculture +0.46%.  Gold -1.53%.

Iron Ore -3%.  Thermal Coal +1.5%.

Overnight Oz Futures flat +0.0%

Energy stocks look likely to be strong today.

Finspiration Australia. Chart analysis of Australian and International Stock Markets.

 XJO down heavily today -1.75% and broke below support which has held the past two days.

The Index is very oversold with RSI below 30.  Stochastic has dipped below 20 where it rebounded at the end of January.

We are close to the end of this pull-back - but wait until we see definite signs of bottoming before entering for a short-term bull trade.

LB

Finspiration Australia. Chart Analysis for Australian and International Stock Markets.

 12/5/22.   Overnight.

No reprieve for the bulls.  Bear market continues on down.

Dow Jones -1.02%.  SP500 -1.85%.  Nasdaq -3.18%.  Small Caps -1.68%.  Banks -1.78%.

SP500.

SP500 remains in a steep down-trending channel.  Until it breaks to the upside of that channel, it's no use for the bulls to expect a counter-trend rally.

Any green shoots?  Yes - a couple.  Volume has eased off a little in the last couple of days, and CCI is showing a positive divergence.  But - wait, until we see firm evidence of a move to the upside.

Commodities.

Some reprieve for Commodities last night, with DBC (+2.46%) bouncing off its 50-Day MA.  Energy +3.19%.  Base Metals +1.89%.  Agriculture +1.82%.  Gold +0.82%.

Iron Ore +3%.  Thermal Coal +2.2%.

Those Commodity prices and IO price hold promise for resources and agricultural stocks today in Australia.

Overnight Oz Futures are down -0.5% - not as bad as the U.S. would suggest.

Finspiration Australia. Chart Analysis of the Australian and International Stock Markets.

 11/5/22.  XJO up modestly today +0.19%.

 The Index saw plenty of intra-day buying today, after being well down at around 11.00 a.m.  From that low, the market put on about 70 points - a remarkable turnaround.

Horizontal support at 6980 has now held for two days in a row.

Today's action produced an "inside day".  That's still an indecisive action - but the hold at horizontal support suggests we will see more upside.

Best sector today was Health (XHJ +1.74%).  Financials (XXJ -1.06%) was the worst performer.  That was offset to some degree by a healthy rise in Materials (XMJ +0.9%).  Six sectors were up while five were down.  That's in line with the modest rise in the XJO.

Europe and the U.S. are currently showing positive signs of life, so we could be at the start of a counter-trend rally.  Just don't think this is the bottom.

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

 11/5/22.  Overnight.

Mixed results in New York.

Dow Jones -0.26%.  SP500 +0.25%.  Nasdaq +0.98%.  Small Caps -0.63%.  Banks -1.48%.

SP500.

SP500 was up modestly in choppy trade.  It is oversold on the RSI and a positive divergence is showing on the CCI.  We might get a short-term rally.  This is still a case of "sell-the-rally".

Commodities.

Commodities Index -0.59%.  Energy -1.34%.  Base Metals -0.64%.  Agriculture +0.7%.  Gold -0.84%.

Commodities Index is down to the 50-Day MA, so we might see a rebound here.

Iron Ore -1.3%.

XJO has opened flat this morning.  We'll probably have choppy trading today - following the U.S.

Finspiration Australia. Chart Analysis of the Australian and International Stock Markets.

 10/5/22.  XJO down -0.97%.

Today's fall is a sharp decline but ignores the intra-day activity.

XJO hit an important horizontal support level today and bounced up +1.6%.

That's a significant bounce off horizontal support.

We can expect more upside in the short-term.

That takes nothing away from my idea that we are in a bear market which will have further to fall.

We will get significant bounces but they should provide times when you can sell-the-rallies.