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

 30/6/22.  Financial Year finishes down almost -2%.

For first-half of 2022, XJO was down -11.8%.

Here's to a better second-half of 2022.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets

30/6/22.  Overnight.  Mixed results in the U.S.

 Dow Jones +0.27%.  SP500 -0.07%.  Nasdaq -0.03%.  Small Caps -1%.  Banks -1.05%.

SP500.

SP500 had a narrow range day and is stuck between support and resistance.  Wait.

Commodities.

Commodities Index -1.72%.  Energy -2.56%.  Base Metals -0.25%.  Agriculture +0.63%.  Gold -0.08%.

Iron Ore -0.1%.  Thermal Coal -3.4%.

Overnight Oz Futures were flat 0.0%.

It looks like a flat opening on the XJO.

In economic news, U.S. GDP contracted at a -1.6% year-on-year pace in the first quarter of 2022.  Jerome Powell, Chair of U.S. Federal Reserve Bank, reiterated its stance that the Fed's job is to prevent higher inflation, i.e. raise interest rates.  It seems to me that the U.S. is headed for recession defined as two quarters of negative growth.

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

 XJO followed U.S. down today -1.1%.

Eight out of eleven sectors were down.  Interestingly, one of the sectors on the positive side was Financials (XXJ +0.3%).  The worst sector was the interest rate sensitive Property (XPJ-4%)

I'm still expecting more downside.

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

 29/6/22.  Overnight.  Big sell-off in U.S. tech stocks.

Dow Jones -1.56%/.  SP500 -2.01%.  Nasdaq -2.98%.  Small Caps -1.52%.  Banks -0.48%.

SP500.

The three-day candle-stick pattern (up candle, doji, down candle) is a classic reversal pattern.

It has happened at a strong resistance level, the Kijun Sen (Base Line).  That also coincides with the 20-Day MA (see thumb-nail chart above).

A reversal pattern occurring at strong resistance is usually reliable.  Look for a test of the recent low.

Commodities.

Commodities Index +1.19%.  Energy +1.13%.  Base Metals flat 0.00%.  Agriculture +0.44%.  Gold -0.16%.

Iron Ore +0.5%.  Thermal Coal +0.3%.

After 15 minutes of trading, XJO down -0.9%.  Those good commodity prices might soften the effect on miners and energy stocks.

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

 XJO up again today +0.86%.

XJO is in a short-term counter-trend rally.

Next major resistance is the Kijun Sen (Base Line) at 6848.  XJO finished today at 6706.  We have some more upside in this rally.

Energy +3.62% and Materials +3% underpinned today's rally.

We've had a couple of strong days in a row.  It wouldn't surprise if we see a settling back tomorrow.  It will depend largely on the Resource Sectors.

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

 28/6/22.  U.S. equities eased overnight.

Dow Jones -0.2%.  SP500 -0.3%.  Nasdaq -0.72%.  Small Caps -0.79%.  Banks -0.73%.

SP500.

A narrow range day after Friday's expansion day.  Plenty of resistance remains overhead.  Wait.

Commodities.

Commodities Index -0.22%.  Energy +0.33%.  Base Metals +0.4%.  Agriculture -1.21%.  Gold -0.11%.

Iron Ore +0.9%.  Thermal Coal +1.4%.

Overnight Oz Futures flat 0.0%.

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

 27/6/22.  XJO up strongly, +1.94%.

Price action today was positive with the XJO finishing above the Tenkan Sen (Conversion Line) and Supertrend (1.5/7) switching from blue (bearish) to yellow (bullish).

Horizontal Resistance now stands at 6848 which coincides with the Kijun Sen (Base Line).

Stochastic has finished above 20 which is bullish.

Breadth today was good, although not as good as Friday.  Advances-Declines today 903-636 = Net 267.

Friday Advances-Declines 988-476 = Net 512.

All eleven sectors were up today with the best performer being Financials (XXJ +2.64%). XXJ has been under pressure lately, so that's a welcome move to the upside.