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

 5/11/22.  Overnight in America, stocks rise but down for the week.

Dow Jones +1.26%.  SP500 +1.36%.  Nasdaq +1.29%.  Small Caps +1.54%.  Banks +2.55%,

SP500.

Trading was choppy after the Jobs Report, but an afternoon rally took the SP500 well into positive territory.  (Stock market adage:  Dumb money buys in the morning, smart money buys in the afternoon.

On Thursday, SP500 hit 3700 (round numbers) and has bounced on Friday.  The Thur/Fri action saw a successful test of the old restraining oblique trend line from early October.  That suggests we will see more upside.

The Supertrend Line (7/3) remains bullish.

Long term, SPX remains well below the 200-Day EMA - that's the long curved line at the top of the chart.

While SPX remains below the 200-Day EMA, I'll continue to think that any rally is a bear market rally.

Commodities - Whooska.

OMG - What happened?   Commodities Index +3.38%.  Energy +3.65%.  Base Metals +6.31%.  Agriculture +1.26%.  Gold +3.07%.

The best guess is that China will give up on its Covid Zero policy - re-opening the Chinese Economy.  That's good news for a resources based economy like Australia which has China as its major market.

In Australia yesterday.

On Friday, XJO successfully tested major horizontal support, after failing at the 200-Day MA on Thursday.  Those astounding Commodity prices on Friday night, suggest at least another test of the 200-Day MA and possibly a finish above that important support/resistance level.  Currently, XJO is about 1.5% below the 200-Day MA.  A move of more than 1.5% on Monday certainly looks feasible given those Commodity results.

Bitcoin

On Friday, Bitcoin was up >4% and continues its bullish action.  That's a (higher high, higher low) "go long" event.

Here's the Ichimoku Chart for BTCUSD:

BTCUSD remains within the Kumo Cloud.  More cautious investors might wait until the chart rises above th Kumo Cloud.

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

 4/11/22.  Morning Report.

Overnight in America, Stocks fall again, but intra-day buying is evident.

Dow Jones -0.46%.  SP500 -1.06%.  Nasdaq -1.73%.  Small Caps -0.55%.  Banks -1.42%.

SP500.

SP500 finished at 7320.  There may be a little more down side in this pull-back - perhaps to 7300.  If it gets there I'll be looking for a move to the upside.

Commodities.

Commodities Index flat -0.08%.  Energy flat +0.08%.  Base Metals -0.11%.  Agriculture -0.5%.  Gold -0.38%.

After 40 minutes of trading today, XJO is down modestly -0.3%.

BITCOIN.

Bitcoin was flat overnight, -0.16%.

Bitcoin remains in the Kumo Cloud - that's the no-trading zone.  Wait.

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

 3/11/22.  Morning Report.

Fed pulls the rug - stocks nose dive.

Dow Jones -1.55%.  SP500 -2.5%.  Nasdaq -3.36%.  Small Caps -3.41%.  Banks -1.97%.

SP500.

The up-trend in the SP500 is finished.  The Index is now down to the first level of horizontal support, that is unlikely to hold.  3700 looks like the next round number support level.

Iron Ore +0.4%.

Stochastic is in the oversold region.  Look for a move back above the 20 level for a buy signal.

Commodities.

Commodities Index +0.9%.  Energy +1.97%.  Base Metals -0.55%.  Agriculture -0.55%.  Gold -0.7%.

After 30 minutes of trading today, XJO is down >2%.  If we see a bounce today it is likely to be in the Energy Sector.

Bitcoin.

Bitcoin fell -2.17% overnight.  Could have been worse given the rout in tech stocks.  :)

BTC is inside the Kumo Cloud - that's the no-trade zone.  Wait for a move above the Kumo Cloud.

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

 2/11/22.  Evening Report.

XJO was up today just +0.14% - more or less flat ahead of the Fed. decision tonight.

Best sectors today were the two resources, XMJ up +1.1% and Energy +1.1%.

XJO is right at resistance of the 200-Day MA.  That's a key level.    It all depends on what happens tonight in the U.S.

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

 2/11/22.  Morning Report.

Overnight, Stocks in America fall modestly ahead of Fed decision.

Dow Jones -0.24%.  SP500 -0.41%.  Nasdaq -0.89%.  Small Caps +0.45%.  Banks +0.7%

SP500.

SP500 has run into dual resistance - horizontal resistance and resistance from the lower edge of the Kumo Cloud.  Tonight's action after the Fed. decision should determine direction.

Short term, the trend remains up.  Plenty of support remains below - so this could be a buy-the-dip scenario.

Commodities.

Commodties Index +1.51%.  Energy +1.25%.  Base Metals +2.56%.  Agriculture +1.11%.  Gold +1.02%.

After thirty minutes of trading this morning, XJO is up about +0.3%.

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

 1/11/22.  Evening Report.

Australian stocks surge higher today.

 XJO finished up +1.65% today.  The RBA Interest Rate was raised +0.25% as expected which the market took as a signal to go higher.

All eleven sectors were up today, the worst (relatively) was Telecommunications +0.5%.  All other sectors were up >1%, the best being Materials +2.6%

The XJO is now close to the all important 200-Day MA.  The last time it approached this level, the XJO then fell.  

If the XJO can get over that hurdle, we should have a bull market on our hands.

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

 1/11/22.  Morning Report.

Overnight in America, stocks weaken ahead of Fed. decision.

Dow Jones -0.39%.  SP500 -0.75%.  Nasdaq -1.03%.  Small Caps -0.11%.  Banks -0.49%.

SP500.

Today's action shows a narrow-range, inside day - a sure sign of indecision ahead of the Fed. decision.

The pause has come at horizontal resistance - again, a natural place for an indecisive mood.  It will depend on how the market reacts after the Fed. decision, tomorrow night Oz time.

Commodities.

Commodities Index -0.71%.  Energy -1.19%.  Base Metals -2.44%.  Agriculture +1.07%.  Gold -0.82%.

That looks like a bottom is in for Agriculture.

After 90 minutes of trading this morning, XJO is up modestly after opening higher.  XJO +0.3%.