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

 29/10/22.  Morning Report.

Overnight, U.S. stocks surge higher, Apple up >7%.  Commodities fall.

Dow Jones +2.59%.  SP500 +2.46%.  Nasdaq +2.87%.  Small Caps +2.16%.  Banks +1.84%.

SP500.

Friday produced a bullish engulfing candle which took the SP500 above resistance of the 50-Day MA.  Next stop - the Ichimoku Cloud.  Stay with the up-trend until it has clearly ended.

Commodities.

Commodities Index -1.17%.  Energy -1.22%.  Base Metals -2.75%.  Agriculture -0.51%.  Gold -1.02%.

From an Australian perspective, overnight results are a mixed bag.  Clearly, resource stocks will continue to be under threat, while banks and technology stocks might prosper.

Yesterday in Australia.

Yesterday, the XJO suffered a down day, -0.87%.  It was not alone in that with Japan, Shanghai and Hong Kong also falling.

Yesterday's action came back to test the 50-Day MA as support.  Last night's action in the U.S. suggests the ASX could break above the Kumo Cloud which would be a bullish event.

XJO had a weak "buy" signal on 17 October when the Conversion Line crossed above the Base Line of the Ichimoku system.  A break above the Kumo Cloud would strengthen that signal.

Next trip looks like a test of the 200-Day MA.

Bitcoin.

Bitcoin continues to hold above the 50-Day MA and the downtrend line from mid-August.

It is now facing resistance of the Kumo Cloud.

It's recent long consolidation period does, however, appear to be ending.  Look to more upside.

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

 28/10/22.  Morning Report.

Overnight:  Mixed results in America with Tech down again.

Dow Jones +0.61%.  SP500 -0.61%.  Nasdaq -1.63%.  Small Caps +0.35%.  Banks 0.00%.

Tech stocks were affected by a plunge in Meta, down -24.6%

SP500.

SP500 has stalled at the 50-Day MA.  Watch for a test of the Supertrend Line (yellow) and the 20-Day MA.

Commodities.

Commodities Index +0.16%.  Energy +0.59%.  Base Metals -0.86%.  Agriculture -0.6%.  Gold -0.15%.

Iron Ore Futures collapsed, down -12.2%.

That's going to affect our big iron ore miners.  At 10.55 a.m., BHP is down -3.42%, Rio down -3.02% and FMG down -5.19%.

XJO down -0.5%.  Financials doing the heavy lifting, up +0.53%.

Bitcoin.

Bitcoin was down modestly overnight -0.39%.  It remains in a bullish profile.

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

27/10/22.  Evening Report.

ASX moves higher today.

 XJO finished up +0.5% today and above the 50-Day MA.  This is looking increasingly bullish.

Seven sectors were higher today with one flat.  Energy was the stand-out, up +2.4% with Woodside up +3.2%.  The other large cap doing well today was Newcrest also up +3.2%.

Gold Miners rose +3.7% today and finished above the 50-Day MA with the 20-DMA close to a bullish cross above the 50-Day MA.

Gold Miners might finally be taken on a bullish rally.  The chart pattern is close to completing an inverse head and shoulders bottom pattern.

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

 27/10/22.  Morning Report.

Dow Jones flat, Tech down after strong intra-day selling.

Dow Jones +0.01%.  SP500 -0.74%.  Nasdaq -2.04%.  Small Caps +0.35%.  Banks +0.41%.

META plunged -19% in after-market trading which doesn't augur well for the Nasdaq tonight.

SP500.

SP500 ran into resistance of the 50-Day MA.  Expect a pull-back to the 20-Day MA or the Supertrend Line (7,1.5).

Commodities.

Commodities Index +1.87%.  Energy +2.33%.  Base Metals +3.37%.  Agriculture -0.4%.  Gold +0.64%.

Those good Energy and Metals prices should keep the ASX alive today.

After one hour of trading this morning, XJO up +0.46%.

Bitcoin.

Bitcoin rallied +2.3% overnight adding to the previous gains.  This is looking good for further upside.

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

 26/10/22.  Evening report.

Post Budget - ASX remains steady.

XJO was up just +0.18%.

The biggest influence on our market day was, not the budget, but reports from stocks both in Australia and overseas.

If anything, the budget was a positive for the share market with fiscal sobriety to the fore.

Overseas last night, the U.S. market was up strongly but aftermarket moves by Alphabet and Microsoft (both down) ameliorated the positive impetus of the U.S. overnight results.  A further drag on our market today was a poor report from Coles which also affected Woolworths, both down about -3%.

Another drag on our market was Medibank Private which suffered from a privacy hack, down -18%.

All the big banks, however, rose moderately which helped to stabilise the ASX.

Eight out of eleven sectors were up today, with one flat - Info Tech (XIJ).  The stand-out performer today was Property (XPJ) up +2.5%.

Tonight in America, META, Facebook's parent, announces results.  That again could be market moving.

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

 26/10/22.  Morning Report.

American stocks continue to rise.  Alphabet and Microsoft reported after hours.

SP500 +1.07%.  SP500 +1.63%.  Nasdaq +2.25%.  Small Caps +2.32%.  Banks +1.73%.

Alphabet and Microsoft reported after hours and the market responded poorly.  Those closing figures above overstate the current position.

SP500.

SP500 is now testing the 50-Day MA as resistance.  It may now pull back to test the 20-Day MA as support.  

The index is now between a rock and a hard place - Wait.

Commodities.

Commodities Index +0.56%.  Energy +0.87%.  Base Metals -0.44%.  Agriculture -0.3%.  Gold +0.23%.

After 20 minutes of trading, XJO is up +0.4%.  Coles reported before the market opened and is now down -2.53% - taking WOW down with it.  WOW now down -1.4%.  

Bitcoin.

Bitcoin had a sharp rise last night.  It is now above the 50-Day MA and the Supertrend Line has turned bullish.  A cross-over of the 20-DMA above the 50-DMA would provide a "silver cross" - that's a solid medium-term go long signal.

Finspiration Australia. Chart Analysis for Australian and International

 25/10/22.  Evening report.

XJO was up strongly in early trade (up +0.8%) but suffered intra-day selling.

XJO finished up +0.28%.

It remains within its sideways consolidation so the next move is probably to the downside.

Despite the positive finish,  breadth was slightly negative Advance/Declines = 649/749.

We are in reporting season.  Two stocks got slammed today after reporting.  ALD (Ampol) down -12.6%.  Reliance Worldwide -13.4%.  

Energy -1.6% and Materials -1.2% were the only sectors down today.

Tonight in Australia, the new Labor government issues its first budget.

In America, two big companies report, Google and Microsoft.  Those reports are likely to be market moving.