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

17/9/22.  Overnight in America, stocks slip again.

 Dow Jones -0.46%.  SP500 +0.72%.  Nasdaq -0.9%.  Small Caps -0.65%.  Banks -1.51%.

SP500.

Friday's candle presents as a "hanging man" candle, coming at the low end of a trend that often signifies an end to the trend is close.

SP500 gapped down at the opening, sold off, but intra-day buying brought the index back up close to its opening quote.

RSI is oversold.  Both RSI and CCI show positive divergences so a rebound may be a possibility.

Stochastic is down into the oversold area.  That's a "get set" signal, but don't jump the gun.  It can remain oversold for long periods of time.

Commodities.

Commodities Index -0.36%.  Energy -0.62%.  Base Metals flat 0.00%.  Agriculture -0.1%.  Gold +0.55%.

Gold fell heavily on Thursday on bigger than normal volume.  Thursday may have been a wash-out event.

Yesterday in Australia.

XJO down heavily on Friday, -1.52%.  It is below the Kumo Cloud and Supertrend is blue (bearish).

The index is coming down to horizontal support and a major congestion zone over to the left of the chart.  RSI is oversold.

There may be a bit more upside, but a short-term bounce is likely next week.

BITCOIN.

Above is a six-month daily chart of BTCUSD,  From late March to early June, Bitcoin fell heavily.  Since then it has been in a long sideways consolidation.  Short-term it is consolidation at recent lows.

The Crypto could be setting up for a move to the upside with plenty of positive divergences showing on indicators.

Below is a one-year weekly chart of BTCUSD.

The fall from grace for BTC began in early Nov. last year when it topped close to $70,000.  It is now down around $20,000.  

In that time, as shown by the Supertrend Line, BTC has had only one serious attempt at a rebound (in March) which failed.  It's had two consolidation periods since then.  The current one, with BTC oscillating around the 200-Week MA, has lasted a long time by BTC standards.  So it may be due for a move to the upside.  A move back above the Supertrend Line could signal the beginning of a tradable rebound.  I doubt, however, that it will last for long.  Look for resistance at the Base Line of the Ichimoku system - around $32,000.

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

16/9/22.  Overnight in the U.S.  Stocks continue to the downside.  Banks rise.

  Dow Jones -0.56%.  SP500 -1.13%.  Nasdaq -1.43%.  Small Caps -0.82%.  Banks +1.37%

European STOXX600 down -0.7%.

10Yr T-Note yield now up to 3.45%.  That had a negative effect on Tech stocks and a positive effect on Banks.

SP500.

SP5500 has nudged below the lower edge of the Kumo Cloud but still, more or less, in line with horizontal support.

CCI is showing a positive divergence so we could get a surprise move to the upside.

Stochastic has fallen into the oversold region - that's a get set sign.  Just don't jump the gun - wait for a move up above 20.  Stochastic can stay oversold for long periods of time.

Commodities.

Commodities Index down heavily, -2.92%, pushed down by a big fall in Energy -3.65%, falling from key moving average resistance.  Base Metals -0.52%.  Agriculture -0.05%.  Gold also down heavily -1.87%.

Iron Ore +0.1%.   Thermal Coal +0.3%.

Overnight Oz Futures -0.6% indicating further falls for the Australian market today.

BITCOIN.

Bitcoin continues to consolidate at lows and remains in its long-term sideways consolidation.  Until we see a move by Bitcoin above the Kumo Cloud and then above the 200-Day MA, it is difficult to see Bitcoin sustaining a bull rally.

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

 15/9/22.  XJO up modestly today.

Not much joy in that chart, although XJO did rise +0.21%

Today's candle is a narrow range candle.  It has respected the resistance of the lower edge of the Kumo Cloud.

This appears to be a consolidation at the lows of the previous day's plunge.  That suggests we'll see more downside.

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

 15/9/22.  Overnight in America, choppy trading with modest gains in major indices.

Dow Jones +0.1%.  SP500 +0.34%.  Nasdaq +0.74%.  Small Caps -0.02%.  Banks -0.5%.

SP500.

SP500 is consolidating at the lows of yesterday's plunge.  It is finding support at horizontal support and the lower edge of the Kumo Cloud.  We could see more consolidation around this level.

Short term, SPX is bearish with the Supertrend Line switching over to blue.

Commodities.

Commodities Index +0.43%.  Energy +0.52%.  Base Metals -0.31%.  Agriculture -0.63%.  Gold -0.38%.

Iron Ore -1.6%.  Thermal Coal +1.1%.

After twenty minutes of trading on the ASX, the XJO is up +0.3%.

BITCOIN

Bitcoin remains bearish and will remain so while it is below the Kumo Cloud.

It is in a long term sideways consolidation - unusual for this Crypto-currency,

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

14/9/22.  Overnight:  Big downside reversal in America.

 Dow Jones -3.94%.  SP500 -4.32%.  Nasdaq -5.16%.  Small Caps -3.87%.  Banks -3.93%.

SP500.

I was expecting a pause here because of dual resistance (horizontal resistance and Base Line of the Ichimoku system).  Instead the market has bad a big downside reversal.  Selling was unrelenting through-out the day.

SP500 has now reverted to a down trend after four days to the upside. Supertrend Line has switched from yellow to blue (bearish).

It is now facing support of the Kumo Cloud and horizontal support.  We might see some churning here as there is a big congestion zone to the left of the chart from June and July this year.

Commodities.

Commodities Index -0.51%.  Energy -0.2%.  Base Metals -0.68%.  Agriculture -0.62%.  Gold -1.3%.

Iron Ore +0.5%.  Thermal Coal +0.4%.

Overnight Oz Futures -2.2%.  

After 25 minutes of treading, XJO is down -2.75%,

BITCOIN.

Bitcoin was flat overnight +0.09%, but remains in its bear market.

Until the chart can get back above the Kumo Cloud and the 200-Day MA, consider any rally to be a counter-trend rally.

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

 13/9/22.  ASX up for fourth day in a row.

XJO up today +0.65%.

This has been a strong four-day advance by the XJO.

It is currently not overbought, so we can expect more upside movement.

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

 13/9/22.  Overnight in America, stocks continue to run higher for fourth day.

Dow Jones +0.71%.  SP500 +1.05%.  Nasdaq +1.27%.  Small Caps +1.28%.  Banks +0.83%.

European stocks also rose strongly, with European STOXX 600 up +1.8%.

SP500.

Short-term, SP500 continues to be bullish, but now facing some resistance from a congestion zone to its left and the Base Line of the Ichimoku system.  Expect some consolidation here.

Commodities.

Commodities Index +1.38%.  Energy +1.47%.  Base Metals +1.05%.  Agriculture +0.69%.  Gold +0.51%.

Iron Ore -0.6%.  Thermal Coal +0.5%.

Overnight Oz Futures +0.7%.  

Expect another solid day for the ASX today on the back of higher overseas stocks and commodities.

BITCOIN.

Since early June, 2022, Bitcoin has been in a long sideways consolidation within a longer down trend.

It remains below the Kumo Cloud and well below its 200-Day MA.  Until resistance of those two indicators, it is best to consider any rally to be a counter-trend rally in an ongoing bear market.