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

27/8/22.  Overnight in America.  Jerome Powell opens the Jackson Hole Convention.  U.S. stocks implode.

 Dow Jones -3.03%.  SP500 -3.37%.  Nasdaq -3.94%.  Small Caps -3.2%.  Banks -3.35%.

SP500.

SP500 has broken down from its consolidation.  It has also broken below the Base Line of the Ichimoku set.

The Index has formed a Head/n/Shoulders top.  Expect more downside.

SPX remains above the Kumo Cloud so it could find support from that formation.

Commodities.

Commodities Index +0.41%.  Energy -0.15%.  Base Metals +0.54%.  Agriculture +1.27%.  Gold -1.22%.

Base Metals hit resistance of the previous high set earlier in August and suffered heavy intra-day selling.  That's not a good sign for Base Metals.

Yesterday in Australia.

XJO had a good day yesterday, up +0.79%.

That took it back up close to the 200-Day MA resistance.

Given events over night in America, we can expect XJO to fail again at the 200-Day MA, and fall heavily.  Probably not as much as the U.S., but a fall in the order of -1.5% to -2% can be expected on Monday.

Finspiration Australia. Chart Analysis for Australian and International Markets.

26/8/22.  In America, stocks rise ahead of Powell address at Jackson Hole.

U.S. markets showed no fear ahead of Powell's address at Jackson Hole.

Dow Jones +0.98%.  SP500 +1.41%.  Nasdaq +1.67%.  Small Caps +1.92%.  Banks +1.72%.

SP500.

 The short term trend remains between a rock and a hard place (Conversion Line and Base Line).

The medium term trend remains up, and the long term trend remains in doubt while SP500 stays under the 200-Day MA.

Commodities.

Commodities Index (-1.41%) was impacted by a big fall in Energy (-1.69%).  Base Metals +0.85%.  Agriculture -0.63%.  Gold +0.31%.

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

 25/8/22.  XJO up strongly today +0.71%.

Well - what are the odds on this one?

I'm no bookie - but this looks like a toss up to me.

XJO remains below the 200-Day MA.  That's a negative.

XJO remains above the Kumo Cloud.  That's a positive.

The chart lies between the Conversion Line and the Base Line - that's indecision.

Trend Spotter from Bar Chart is up.  That's a positive.

Hull MA13 is still sliding down.  That's a negative.

Place your bets - On Red or Black?  You have a 50% chance one way or the other.

I'd wait until I see more evidence in a move - one way or the other.

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

 25/8/22.  Overnight in America, stocks closed up modestly.

Dow Jones +0.18%.  SP500 +0.29%.  Nasdaq +0.41%.  Small Caps +0.31%.  Banks +0.17%.

SP500.

SP500 is in consolidation mode.  

Stochastic (bottom panel) is in the oversold zone, so we can start to look for an upside movement.  Stochastic can stay oversold for long periods of time, so don't expect an immediate upside movement.  It might come, but don't bet on it.  Patience.

Commodities.

 Commodities Index +1.05%.  Energy +1.44%.  Base Metals +0.25%.  Agriculture +0.39%.  Gold +0.29%.

After 30 minutes of trading, XJO is up about +0.5%.  Best performing sectors are Energy and Real Estate.  Consumer Staples hit hard by a big fall in Woolworths down more than -4%.

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

 

XJO up today +0.52%.  That's just a nudge up from the low of yesterday.

The short-term trend remains down.  Stay with the short-term trend.

Unfortunately I'm a bit hamstrung at the moment.  I put a lot of faith in the NH-NL Line and the Ad-Dec Line.  My excel charts have seen a lot of deletions from this data.  So I don't have up-to-date data.  So I'm left with old fashioned chart analysis of the Index.

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

 23/8/22.  Overnight:  havoc on overseas markets.

Dow Jones -1.91%.  SP500 -2.14%.  Nasdaq -2.55%.  Small Caps -2.25%/. Banks -2.29%.

The U.S. 10-Yr T-Note yield jumped back above 3%

In Europe:  U.K. -0.22%.  Germany -2.3%.  

SP500.

The gap left on 10/8/22 has now been filled.

SP500 is down to a congestion zone which occurred in both May and August.

Expect consolidation here.

Commodities.

Despite heavy falls in stocks, Commodities were generally positive.

Commodities Index +0.99%.  Energy +1.21%.  Base Metals +0.75%.  Agriculture +0.8%.  Gold went the other way, -0.66%.

Those Energy and Base Metals prices should soften the impact of overseas stocks on our market today.

After 20 minutes of trading, XJO is down -0.5%.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets

 22/8/22.  Today in Australia, XJO down -0.95%.

XJO has been rejected at the 200-Day MA, falling heavily today.

We have a preliminary, short-term sell signal with the Hull MA13 turning to the down side.

A medium-term sell signal will occur when the following conditions are all met:

    1.  RSI below 50.

    2.  Stochastic turning down below 80.

    3.  MACD Histogram below zero.

Conditions 2 and 3 have so far been met.

Advance-Decline Line is also flashing a sell signal.

A-D Line has now fallen below its 20-Day MA.  That's another sell signal.

It's not looking very hopeful at this stage.