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

 2/7/22.  Yesterday in Australia.

XJO fell -0.43%

XJO has now been down three days in a row.  The chart is bearish on all time frames, short, medium and long term.  This is a market for traders, not for investors.

Overnight.  American Equities bounce higher.

Dow Jones +1.05%.  SP500 +1.06%.  Nasdaq +0.9%.  Small Caps +0.93%.  Banks +1.53%.

SP500.

SP500 bounced off support and remains in its short-term consolidation.  A test of overhead resistance seems likely.  Wait.

Commodities.

Commodities Index +0.49%.  Energy +1.64%.  Base Metals -0.67%.  Agriculture -1.96%.  Gold -0.08%.

The rise in Energy has come at the low end of a down trend, and under heavy volume.  That could be the end of the down-trend in Energy.

20-Year Treasuries (U.S.)

TLT (20-Yr) Treasuries up last night +0.83% (yields lower).

The past two session have seen strong intra-day selling (long upper wicks on candles), so Bond Bears haven't given up yet.

Last night's selling came as TLT hit resistance of the Kumo Cloud.  This might be the end of the short-term bullish rally - which is not a good sign for stocks.

U.S. is shut for Independence Day on Monday.  XJO usually pulls a surprise when U.S. is shut for holidays.  That could be up or down.  The next couple of days could be interesting in Australia.

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

1/7/22.  Overnight - U.S. equities finish lower.

 Dow Jones -0.82%.  SP500 -0.88%.  Nasdaq -1.33%.  Small Caps -0.39%.  Banks -1.64%.

SP500.

Last night, SPX fell below support then recovered to remain between support and resistance.  That provides some optimism that the next move will be to the upside.  Wait.

For the first half of 2022, SPX is down almost -20%.

Commodities.

Commodities Index -3.09%.  Energy -3.25%.  Base Metals -3.53%.  Agriculture -1.55%.  Gold -0.61%.

Iron Ore -0.1%.  Thermal Coal +1.6%.

Well - if all of the above doesn't say we'll be down today, I don't know what would.  But, for some reason I can't see, Overnight Oz Futures are up +0.2%.  Maybe it's because bond yields fell overnight (bond prices higher), which may have a positive effect on stocks today.  We shall see.

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.