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

 3/9/22.  Overnight, European stocks went up, American stocks went down. 

German Dax up +3.33%.  French Cac +2.21%.  Those big white candles on the DAX and CAC, coming at the end of a down-trend, suggest that the down-trend has ended.

Noooooooo! said the American Indices.

Dow Jones -1.07%.  SP500 -1.07%.  Nasdaq -1.31%.  Small Caps -0.85%.  Banks -0.81%.

Instead of bullish, big white candles on the two European Indices, the American Indices show dark, bearish engulfing candles.  That suggests more down-side despite the American Indices being very oversold.

Initially, the American Indices followed Europe higher, thought better of it, and fell heavily.

The only positive sector on the NYSE was Energy.

SP500

The bearish engulfing candle is clearly seen on this chart.  It is once again testing the Kumo Cloud as support.

Taken at face value, the bearish engulfing candle suggests more downside, but this may be a trap for the unwary.  The Index is very oversold, and at support, so the most likely move here is a short-term rebound, followed by more downside.

Commodities.

Commodities Index +0.68%.  Energy +0.81%.  Base Metals continued to slide, -1.7%.  Agriculture +0.34%.  Gold may have bottomed, +0.88%.

Yesterday in Australia.

XJO had a narrow range day falling modestly, -0.25%.  It has broken marginally below the 50-Day MA and is now into the Kumo Cloud.  Look for some consolidation or perhaps a short-term rebound as the XJO is very oversold.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets

2/9/22.  Overnight in America, results were mixed.

Dow Jones +0.46%.  SP500 +0.3%.  Nasdaq -0.26%.  Small Caps -1.22%.  Banks -0.17%.

SP500.

Strong intra-day buying pushed the SP500 into positive territory, eliminating early losses.

The Index has found support at the Kumo Cloud.  That's promising, this could be the bottom of this pull-back.  We need to see further upside before being confident.

Commodities.

Commodities fell heavily overnight.  Commodities Index -2.14%.  Energy -2.15%. Base Metals -3.79%.  Agriculture -1.55%.  Gold continues in its bear market, -0.88%.

Iron Ore -8%.  

Those resource prices are going to put a dent in today's ASX numbers.

Overnight Oz Futures are up +0.3% which suggests a positive opening to today's ASX trading.  I think that might be a bit optimistic.


 

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

 1/9/22.  XJO down heavily today.

Today's movement takes the XJO down to its 50-Dy MA and the top of the Kumo Cloud.

Expect consolidation at this level.

BHP went ex-dividend today - that was a big drag on the market as BHP is the largest stock on the Oz market - but that doesn't explain today's drop although it did contribute.

Today, ten out of eleven sectors were down.  The only positive sector was Consumer Staples, up +1%.  A major contributo to that was EDV, up

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%.