Finspiration Australia. Chart Analysis of Australian and International Stock Markets

15/7/22.  Mixed results in U.S. markets.

Dow Jones -0.46%.  SP500 -0.3%.  Nasdaq +0.03%.  Small Caps -0.89%.  Banks -2.01%.

SP500.

Stock indices were led lower by a worse than expected result for J.P. Morgan.  But indices regained much of those losses throughout the day with plenty of intra-day buying.  That led to a modest loss in the SP500 of only -0.3%.  The Index remains within its sideways consolidation which suggests the next move will be to the upside, but still no break-out.

Commodities.

Commodities continued to fall last night - not a good sign for the ASX today.

Commodities Index -0.92%.  Energy -0.7%.  Base Metals -1.61%.  Agriculture -1.21%.  Gold -1.4%.

Iron Ore -4.8%.  Thermal Coal -3.2%.

After 15 minutes of trading this morning, the XJO is down -1.24%.  The fall is severe in the miners with Materials down -3.3%.

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

 14/7/22.  ASX had a positive day today up +0.44%.

Today's rise doesn't change the chart analysis.  XJO remains in a sideways consolidation.  Wait for a break out of the consolidation.

Medium and long term, the market remains bearish.

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

 13/7/22.  Small rise today on the Australian market.

A narrow range, indecisive candle today, giving the XJO a small rise of +0.23%.  

That's the second day in a row the XJO has had small, indecisive candles.  That's building up strength for a big move.

Which way?  No way of knowing.  But a break-out of the current sideways consolidation is not far off.

Watch.

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

10.45 a.m.  13/7/22.  Breaking.  XJO just went positive.  Up 3.1 points.  We could have a positive day today.

13/7/22.  U.S. stocks fall overnight.

 Dow Jones -0.62%.  SP500 -0.92%.  Nasdaq -0.95%.  SP500 -0.12%.  Banks -0.24%.

The three major indices are floating between the 20-Day and 50-Day MAs.  A break out of that range will be important.

Coming up in America will be inflation data and the start of earnings season.  Among the large caps, JP Morgan is first cab off the ranks on Thursday.  These events could act as a catalyst for significant movement in the major indices.

SP500.

SP500 is in a short-term sideways consolidation where it has been for nearly three weeks.  Wait for a break-out from the range, 3770-3900.

Commodities.

Commodities continue to be under pressure.  That's bad news for Commodity based economies such as Australia.

Commodities Index -4.53%.  Energy -5.31%.  Base Metals -2.7%.  Agriculture -2.77%.  Gold -0.37%.

Iron Ore -3.1%.

After ten minutes of trading, XJO is down a little, -0.2%.  It's hard to see it turning positive with such poor Commodities and a falling U.S. market.

Finspiration Australia. Chart Analysis of Australian and International Stock Markets

 12/7/22.  Australian market finished flat today.  XJO +0.06%.

ASX started strongly this morning, up +0.7%, but turned down at 10.25 a.m. and never really looked likely to return to its bullish opening.

The Index remains in a short-term sideways consolidation.  The three supertrend lines are flat and parallel to each other.  Two lines are above price and one below - another indication of an indecisive market.  Wait.

One of the major reasons for the reversal was the Energy sector.  It was up nearly +1% in early trading but fell away to finish up just +0.17%.

Amongst large cap stocks, the three best were Amcor +2.38%,  Resmed +2.08% and Woolworths +2.03%.  Two of those stocks (RMD and WOW) were in the small group in the Weekly Wrap to watch.

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

12/7/22.  Weak markets overnight in the U.S. 

Dow Jones -0.52%.  SP500 -1.15%.  Nasdaq -2.26%.  Small Caps -1.35%.  Banks -0.86%.

SP500.

SP500 remains in a right-angle triangle - a consolidation pattern which usually breaks to the upside.

Until we see which way this breaks, it is, in my opinion, best to be patient.

Commodities.

Commodities Index -0.19%. Energy +0.83%.  Base Metals -3.04%.  Agriculture -0.64%.  Gold -0.54%.

This morning, ASX started strongly but fell after 25 minutes of trading.  Most of the early gains have been lost.  At 11.45 a.m., XJO is up 17 points or about +0.3%.

Best sectors are Energy +1.06%, Consumer Staples +0.98%, Health +1.12%, and Utilities +1.2%.  Utilities is often affected by movements in the Energy Sector.

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

 XJO down heavily today -1.14%.

Despite the big fall today, XJO remains in a sideways consolidation.

The only sector up today was Health (XHJ) up marginally +0.12% .

We need to see a break one way or the other of the XJO.