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

 10/9/22.  Overnight in America, stocks rise for third day.

Dow Jones +1.19%.  SP500 +1.53%.  Nasdaq +2.11%.  Small Caps +1.91%.  Banks +0.85%.

SP500.

SP500 is in a short-term up-trend.  Chart is above the Kumo Cloud.  Supertrend (1.5/7) has switched to bullish (yellow) and last night SP500 rose above the Conversion Line of the Ichimoku system.

Indicators in the lower panes are all short-term bullish.

The Index remains below the Base Line of the Ichimoku system and the Lagging Span (Chikou Span) is still below the chart.

For a more confident medium-termassessment, I would like to see the Conversion Line above the Base Line and Chikou Span above the chart.

This remains a bear market rally.  I'd look to take profits if the Index fails again at the 200-Day MA.

Commodities.

Commodities had a great night last night.  Commodities Index +2.84%.  Energy +3.38%.  Base Metals +1.44%.  Agriculture +1.87%.  Gold +0.53%.

Yesterday in Australia.

XJO was up strongly on Friday +0.66%.

Supertrend (1.5/7) has switched to bullish (yellow).  The chart is at the Conversion Line but below the Base Line and the chart has nudged above the Kumo Cloud.

Stochastic has pulled up out of its oversold zone.  That's a "get set" signal.  "Go" should occur on Monday with strong overnight leads from U.S. Stocks and Commodities.  That will pull MACD Histogram above zero and RSI above 50.  

Again, like the SP500, I'd look to take profits if the index fails again at the 200-Day MA where it has failed twice recently in late August.

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

8/9/22.  XJO up strongly today.

XJO up today +1.77%, completely erasing the previous day's big fall.

The Index has plenty of overhead resistance which will be problematic for the Index.

After such a big surge today, expect tomorrow will be a narrow range day.  

Until the Index gets above the 200-Day MA (big black line) the long term trend remains in doubt.

Breadth was good today with ten out of eleven sectors on the upside.  The only negative sector was XEJ down -2.8%.  It had to contend with dual head-winds.  The biggest stock in XEJ is Woodside which went ex-dividend today.  Overnight, Energy was well down, so that was another drag on XEJ today.

Currently in overseas trade, US futures are sluggish.

Our market can expect a narrow range, indecisive day tomorrow.

 

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

 8/9/22.  Overnight, American stocks up, Nasdaq snaps seven day losing streak.

Dow Jones +1.4%.  SP500 +1.83%.  Nasdaq +2.14%.  Small Caps +1.81%.  Banks +2.18%.

SP500.

SP500 has found support at the lower edge of the Kumo Cloud.  We can expect some more upside, but plenty of resistance lies nearby.

Commodities.

Commodities Index -2.38%.  Energy -3.99%.  Base Metals -1.02%.  Agriculture -0.64%.  Gold +1.02%.

Iron Ore -0.4%.  Thermal Coal -2.5%.

Overnight Oz Futures are up +0.5%.  So we should have a positive day today, but resource stocks might be under pressure.

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

7/9/22.  Ozzie stocks fall heavily.

XJO down today -1.42%.

Today's move takes the Index below the Kumo Cloud - that's into bearish territory.

The Index is oversold with an RSI at 34.21.  So we might see a bounce in the next couple of days, but expect that bounce to be sold. 

Both resource sectors (XEJ and XMJ) were down more than -2%.  Financials (XXJ) was also weak -2%.

Breadth was poor with Advances +507, Declines -805.

We are in the dreaded month of September - historically the weakest month of the year.  Don't expect a lot of positive action.

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

7/9/22.  Overnight American stocks sink again.

Dow Jones -0.55%.  SP500 -0.41%.  Nasdaq -0.74%.  Small Caps -1.37%.  Banks -0.9%.

US Bonds fell.  10Yr Treasury Yields, for example, rose to 3.34%.  (Yields higher, prices lower).

SP500.

SP500 is sitting at dual supports, horizontal support and the support provided by the lower edge of the Kumo Cloud.  It is oversold with RSI at 34.18, so there is a good chance of a rebound at this point.

Commodities.

Commodities Index -0.59%.  Energy -0.89%.  Base Metals +1.03%.  Agriculture +0.25%.  Gold -0.58%.

Iron Ore is down -0.9%.  Thermal Coal -1.6%.

Overnight Oz Futures down -0.6%.  That suggests the ASX will have another weak day today.
 

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

 6/9/22.  Oz market down modestly 
today after RBA rate decision.

XJO fell after the RBA announcement, but the fall wasn't particularly large.  

XJO had been up early in the day's session, but then fell.  So the fall after the RBA announcement wasn't particularly important.

Breadth was neutral, with Advances at 658 and Declines at 668.  There's nothing in that.

The surprise today was the Information Technology sector which was up +0.7%.  Usually, XIJ tends to react negatively to interest rate rises.  Maybe there's a message in that.

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

6/9/22.  Overnight U.S. stock markets and Commodities closed.  European markets generally lower.

 

German DAX -2.22%.  French CAC -1.2%.  European 100 -0.61%.

UK FTSE was up marginally +0.1% after Liz Truss won the vote to be the new UK Prime Minister.

Iron Ore +3.3%.  BHP in London was up +0.91%.

Overnight oz Futures up marginally, +0.1%.

Today in Australia, the RBA meets with its interest rate decision handed down at 2.30 p.m.  The market is expecting a +0.5% increase.