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

 1/9/22.  Australian market down today.

XJO was down heavily today -2.02%

That takes the Index down to the 50-Day MA and the top of the Kumo Cloud.

We can expect consolidation at this level before the next major movement.

BHP was down today -7.6% as it went ex-dividend.  That was a drag on the market but doesn't explain the poor overall result.

Ten out of eleven sectors were down today.  The only sector up was Consumer Staples +1%.

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

1/9/22.  Overnight in America, stocks fall for a fourth session.

 Dow Jones -0.88%.  SP500 -0.78%.  Nasdaq -0.58%.  Small Caps -0.99%.  Banks -0.73%.

SP500.

The Conversion Line of the Ichimoku system has broken below the Base Line.  That's a "weak" sell signal.

The chart remains above the Kumo Cloud - the division between bull and bear market, but the chart is well below its 200-Day MA, so the long term trend is in doubt.

The Kumo Cloud near to the stock chart is very narrow, so it is likely to provide weak support to any move by the stock chart.  The most likely scenario is for the stock chart to break through the Cloud throwing the Index into a bear market.

Commodities.

Commodities are again weak.  Commodities Index -2.09%.  Energy -3.16%.  Base Metals -0.36%. Agriculture  -0.34%.  Gold continues in its bear market, -0.77%.  

After thirty minutes of trading on the ASX, XJO is down more than -1%.

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

31/8/22.  Australia recovers from early losses to finish down modestly.

The lower tail on today's candle shows the strength of intra-day buying today.  The index finished down just -0.16%.

In the short-term, XJO is in non-trending mode.

It seems to be finding support at the Base Line of the Ichimoku system and remains above the Kumo Cloud which is the dividing line between bullish and bearish.

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

 

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

30/8/22.  Overnight in America, stocks were down again.

 

Dow Jones -0.96%.  SP500 -1.1%.  Nasdaq -1.12%.  Small Caps -1.12%.  Banks -0.14%.

SP500.

SP500 has broken below its 50-Day MA, but remains above the Kumo Cloud.

The Conversion Line of the Ichimoku System is close to crossing below the Base Line.  That would be a "weak" sell signal.

Commodities.

Commodities Index -2.78% has formed a double top which is usually a reliable sell signal.  Energy -3.18%.  Base Metals -2.1%.  Agriculture -0.43%.  Gold -0.83% and continues in its bear market.

After 90 minutes of trading this morning, XJO is has rebounded off its opening lows but is still down -0.4%.  Energy has taken a big hit this morning, currently down ~3%.  Materials also doing poorly, currently -1.64%.  Financials are doing the heavy lifting, currently up +0.5%.

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

30/8/22.  Ozzie Market lifted today after yesterday's big fall.

 XJO was up modestly today, +0.47%.  U.S. was down last night, so today's action is probably pre-empting a move in the U.S. tonight.

It has bounced off horizontal support and support of the Base Line of the Inchimoku system.

That's a positive sign.

The Index remains above the Kumo Cloud. which is a dividing zone between bullish and bearish.

Breadth was positive today with ten of eleven sectors rising.  Advances/Declines were 

NewHighs/NewLows were positive 21/

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

 30/8/22.  Overnight in America, stocks fall further after Jackson Hole plunge.

Dow Jones -0.57%.  SP500 -0.67%.  Nasdaq -1.02%.  Small Caps -0.95%.  Banks -0.95%.

SP500.

SP500 gapped down then stabilised with a doji candle finishing for today.

The index is down to its 50-Day MA and remains above the Kumo Cloud, so we should see a consolidation or a small rebound here.

Commodities.

Commodities Index +1.46%.  Energy +2.1%.  Base Metals fell from resistance -1.53%.  Agriculture +0.14%.  Gold steadied, +0.06%.

After 25 minutes of trading this morning, XJO is up +0.3%.  The rise is being led by Energy +1.95% and Financials, the biggest sector, is doing well, up +0.54%.

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

 

XJO down today -1.95%.  

The outlook for the near term is negative.

But, it is possible that the XJO will find support at the BaseLine.  

XJO remains above the Kumo Cloud, that gives a bullish bias to the Index.  XJO is also at the first line of support, so we can expect some upside tomorrow.

Breadth was poor today.  NH-NL 12/30.  Advances-Declines 327/1145.

Oz Vix jumped.

Oz VIX has completed an ABC upside movement.  Expect more upside in the VIX.  Which means - more downside for stocks.