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

30/7/22.  Yesterday in Australia.

 

XJO up yesterday +0.81%.  The chart remains within the Kumo Cloud - the no-trading zone.

Negative divergence on CCI hints at a possible pull-back in the near future.

Dynamic Zone Stochastic remains overbought.  A break below the top channel line would be a short-term sell signal.

Overnight in the U.S.

Dow Jones +0.97%.  SP500 +1.42%.  Nasdaq +1.88%.  Small Caps +0.84%.  Banks +1.38%.

SP500.

This chart is now bullish in both the medium-term and short-term.  Long-term remains in doubt while the chart remains below its 200-Day M.A.

SP500 closed above the Kumo Cloud - which is a bullish sign.

Looming over-head is a major horizontal resistance line set up by the highs back in early June.

CCI suggests the SP500 might have trouble breaking above that resistance line.  Look for a consolidation and see how that pans out.

July has been good for markets - it is a seasonally strong month.  But, we are now coming into three seasonally weak months:  August, September and October, although October often sees a major break to the upside in the latter part of the month.

Commodities.

Commodities, except for Energy remained strong last night.

Commodities Index +0.45%.  Energy -0.04%.  Base Metals +2.39%.  Agriculture +0.3%.  Gold +0.29%.

Last night in America, BHP +1/89%, RIO +1.92%.

Those results bode well for Australia on Monday.

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

 29/7/22.  U.S. Equities rise to seven week highs.

Dow Jones +1.03%.  SP500 +1.21%.  Nasdaq +1.08%.  Small Caps +1.27%.  Banks -0.3%.

Apple and Amazon both reported after the market closed.  Both beat expectations and U.S. Futures have risen.

SP500.

All the gaps-down that occurred in the June fall have now been closed.

SP500 chart is now opposite a congestion zone and at the top of the Kumo Cloud.

Expect some consolidation here.

Commodities.

Commodities Index +0.08%.  Energy -0.93%.  Base Metals +2.24%.  Agriculture +0.95%.  Gold +1.22%.

Gold has completed a bullish cup-with-handle formation, that could produce a rally in Ozzie Gold Stocks which have been under pressure in recent times.

Iron Ore +1%.  Thermal Coal flat.

Oz Futures are well up +0.8% which should ensure a strong start to today's trading.

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

 28/7/22.  XJO up strongly today following the U.S.

XJO is in a short-term up trend.  The chart is now into the Kumo Cloud - the no-trade zone.

Given today's strong action, tomorrow will probably be a narrow range day.

Anything can happen from here.  

Markets remain captive to earnings season in the U.S.  The market can jerk around as results come out.  So far, they have been largely positive.

Advance-Declines remains bullish.

Advance/Declines was very strong today - so strong that it probably means a pull-back tomorrow.

The ratio Advance/Declines was +0.73 today.  That's the strongest we've seen this year.  That's a plus and a minus, medium term, it's a plus, but short term it probably means a pull-back.

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

28/7/22.  U.S. stocks finished higher after Fed. decision.

 Dow Jones 1.37%.  SP500 +2.62%.  Nasdaq +4.08%.  Small Caps +2.33%.  Banks +1.98%.

As expected, the Federal Reserve raised interest rates by +0.75%, but Fed. Head Powell said he didn't think the U.S. was in recession and implied but further rate rises might moderate.

The yield curve, however, remains inverted.  That's usually taken as a sign that a recession is a probability

SP500.

SP500 remains in a short-term up-trend.

CCI and MACD Histogram both show negative divergences from the Index Chart, which suggests SP500 is coming to the end of its rise in the near future.

SP500 is inside the Kumo Cloud, so the top of the cloud might provide resistance.

Commodities.

Commodities also responded well to the interest-rate increase.  Commodities Index +2.28%.  Energy +2.99%.  Base Metals +1.13%.  Agriculture +0.71%.  Gold +1.02%.

Iron Ore +0.1%.  Thermal Coal -0.6%.

Overnight Oz Futures are up 0.8%, so ASX market should have a strong start to trading today

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

27/7/22.  Overnight U.S. stocks fall.

 

Dow Jones -0.71%.  SP500 -1.15%.  Nasdaq -1.87%.  Small Caps -0.55%.  Banks -2.18%.

A slew of reports came out after the market closed including Alphabet, Microsoft, McDonald's, Coca-Cola, Chipotle.  U.S. Stock futures have rise after the bell, about +0.2%.

SP500

SP500 has fallen back to its 50-Day MA which may provide support.  

Federal Reserve gives its interest-rate decision tonight, which might provide market moving information.

Commodities. 

Commodities Index +0.2%.  Energy -0.28%.  Base Metals +1.14%.  Agriculture +1.23%.  Gold -0.12%.

Iron Ore +1.3%.  Thermal Coal +0.9%.

XJO started this morning to the downside, but has since jerked back up.  After 20 minutes, XJO +0.24% with Defensives leading the way.

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

 26/7/22.  XJO up a little today.

XJO up today +0.26%.  It is edging towards the Kumo Cloud which represents resistance.

Short-term, XJO remains in an uptrend.  Longer-term the trend is down.  Usually, the long-term trend wins out.

The best performing sectors today were the resource sectors, XMJ up +1.6% and XEJ +2.8%.

As Australia is a Resource dependent economy, that's a plus for the market.

But our market still depends on the tides of the international market and the effects of interest rates set overseas.

We have to wait on the release of the Federal Reserve interest rate decision and the market's reaction to that.

At the moment, our market is causing in neutral, waiting to see how things go from here.

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

26/7/22.  Mixed results in the U.S.  Tech down, Industrials up.

 Dow Jones +0.28%.  SP500 +0.13%.  Nasdaq -0.43%.  Small Caps +0.67%.  Banks +1.31%.

Walmart reported after the market closed with a pessimistic outlook on the effects of inflation.  U.S. futures fell in response to Walmart's report.

SP500.

The chart is inside the Kumo Cloud, the no-trade zone.  Today's doji candlestick denotes indecision.

The SP500 seems to be waiting on the Federal Reserve's interest rate decision before making its next decisive move.

Commodities.

Commodities Index +1.81%.  Energy +2.07%.  Base Metals -0.22%.  Agriculture +1.35%.  Gold -0.27%.

Iron Ore +0.5%.  Thermal Coal +0.3%.

XJO should up on the plus side this morning.