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

 13/8/22.  Yesterday in Australia.

XJO was down -0.54% with eight out of eleven sectors falling led by Property (XPJ -2.1%).  Energy (XEJ +2.3%) was the best performer.

The short and medium term trends remain up.  The long term trend remains in doubt while the chart remains below the 200-Day MA.

Stay with this rally while the medium and short term trends remain to the upside.

Overnight in America, stocks rose strongly led by Tech.

Dow Jones +1.27%.  SP500 +1.73%.  Nasdaq +2.09%.  Small Caps +1.95%.  Banks +1.28%.

Most of these indices are overbought with RSI14 above 70.

SP500.

SP500 is closing up towards the 200-Day MA.  With RSI14 at 71.67 (overbought), SP500 might find difficulty in breaching the 200-Day MA.

But, the short and medium term trends remain up - so stay with this trend until it has clearly ended.

Commodities.

Commodities Index -0.53%.  Energy -0.59%.  Base Metals -1.41%.  Agriculture +0.19%.  Gold +0.92%.

Gold has made a nice  bounce off the 50-Day MA.  Expect more upside.

The Australian market on Monday should follow the U.S. to the upside, but the weak Energy and Base Metals might put a cap on any upside move.

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

12/8/22.  Yesterday in Australia.

 XJO up +1.12% following the U.S. rally after easing CPI data.

Indicators suggest that yesterday's action may be a false break to the upside.

Overnight in America, mixed results after intra-day selling.

Dow Jones +0.08%.  SP500 -0.07%.  Nasdaq -0.58%.  Small Caps +0.64%.  Banks +1.6%.

SP500.

Negative divergences are showing up on MACD, its Histogram and CCI.  That's good evidence that the SP500 is due for a pull-back.

Commodities.

Commodities Index+1.94%.  Energy +2.78%.  Base Metals +1.03%.  Agriculture +0.93%.  Gold -0.26%.  

Iron Ore +1.6%.  Thermal Coal +0.6%.

Overnight Oz Futures -0.3%, that suggests a weak opening for the XJO this morning.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets

 11/8/22.  Overnight in America - Equities rise on CPI.

Dow Jones +1.63%.  SP500 +2.13%.  Nasdaq +2.89%.  Small Caps +2.21%.  Banks +2.9%.

The three major indices all had large opening gaps to the upside and then continued higher.

SP500.

I look at this chart with a jaundiced eye.

Large opening gaps to the upside, at the top of a trend, are often a sign that exhaustion is about to set in.  The FOMO emotion appears to be setting in,  with weak hands buying helter-skelter.  And we know who is selling to them - the smart traders.

I may be wrong, of course, with the next couple of days telling the true story behind the big up move last night.

Commodities.

Commodities Index +1.38%.  Energy +1.55%.  Base Metals, above its 50-DMA, up +1.5%.  Agriculture +1.34%.  Gold -0.25%.

Iron Ore -0.1%,  Thermal Coal +3.7%.

After 30 minutes of trading this morning, XJO is up +0.92%.

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

 10/8/22.  ASX market weakens today.

XJO was in negative territory all day today and finished down moderately -0.53%, near the lows for the day.

The short-term up-trend is now in doubt, but there is plenty of nearby support.

Tonight's CPI figures in the U.S. could be a market moving event.

Nine out of eleven sectors were down today - so breadth was poor.

The worst hit sector today was Information Technology (XIJ -3.8%). Financials (XXJ) did well, up +0.5%.  It is the biggest sector in the market and saved the XJO from a savage fall.  

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

10/8/22.  Overnight U.S. stocks fall.  Tech hard hit.

Dow Jones -0.19%.  SP500 -0.42%.  Nasdaq -1.19%.  Small Caps -1.44%.  Banks +0.45%.

European stocks also fell with the Euro Stoxx 50 down -1.11%.

SP500.

The modest fall in the SP500 keeps it in short-term and medium-term up-trends.  The longer term remains in doubt with the Index below the 200-Day MA.

The negative divergence on CCI suggests further falls down from the Horizontal Retracement Zone, 50%-61.8% of the fall earlier this year.

Plenty of near-by support may cushion any further falls.

Tonight in the U.S., CPI data is released.  If inflation ticks higher, the Fed. may be more aggressive in its next interest rate rise.

Commodities.  Out of step with Stocks.

Commodities Index +0.93%.  Energy +0.95%.  Base Metals +1.42% and up to the 50-Day MA, Agriculture +0.4%.  Gold tipped above its 50-Day MA, up +0.31%.  Expect more upside in Gold.

Iron Ore -1.5%.  Thermal Coal +3.6%.

Lots of plusses and minuses for Australia in the overnight data.  Stronger base metals, Energy and Banks should limit losses today in Australia.

After 15 minutes of trading, XJO is down -0.47%.  BHP is flat +0.05%, but Rio has risen +0.57%.  

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

 ASX flat today.

XJO up today +0.13%.  The day's action was contained within a narrow range.

The short-term and medium-term trends remain positive.

While the XJO remains below the 200-Day MA, the long-term trend remains in doubt.

The big news in Australia was the report from NAB.  As usual, the CEO reported how pleased he was with the results.  The market thought otherwise, NAB fell nearly -3%.  Why can't these CEOs be clear about their prospects?

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

9/8/22.  Overnight Major U.S. Indices more or less flat.

 Dow Jones +0.09%.  SP500 -0.12%.  Nasdaq -0.1%.  Small Caps +0.63%.  Banks -0.53%.

Euro Stoxx 50 finished up +0.85%.

American stocks opened strongly following Europe, but the rally faded after the first half-hour.

SP500

SP500 remains in the Retracement Zone between 50% and 61.8% of the fall from late March to mid-June.  That's also opposite a congestion zone which occurred in late May to early June.

The negative divergence on CCI (bottom panel) suggests the next move will be down.

CPI comes out on Wednesday.  That may be a catalyst for a move in the market - either up or down.

Commodities.

Commodities Index +1.21%.  Energy +1.95%.  Base Metals +0.2%.  Agriculture +0.55%.  Gold +0.85%.

Gold continues to find resistance at the 50-Day MA.  A break above that should see a sustained rally to the upside.

Iron Ore +1.7%.  Thermal Coal +2.8%.

ASX is set to open flat with Overnight Oz Futures down -0.1%.