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

 26/11/22.  Finspiration Saturday Report.

U.S. markets finish Thanksgiving Week on a mixed note.

Dow Jones +0.45%.  SP500 -0.03%.  Nasdaq -0.52%.  Small Caps +0.21%.  Banks +0.36%.

DJ has been leading the market.  RSI is now above 70 (overbought), be prepared for a pull-back.

SP500.

SP500 is stalling at the 200-Day MA.  A move above that line would be bullish but that seems unlikely.

CCI is showing a negative divergence, so the next move is likely to be down.

Commodities.

Commodities Index -0.88%.  Energy -1.44%.  Base Metals -0.47%.  Agriculture -0.05%.  Gold +0.09%.

There's not much in the Commodity figures for Australian resource stocks on Monday.

Bitcoin.

Bitcoin remains in its long-term down-trend although consolidating near its lows.  Until we see much more positive action - I'd avoid.

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

 25/11/22.  Finspiration Friday Morning Report.

Overnight, U.S. markets were closed for Thanksgiving.  European markets were up:  European Stoxx600 up +0.46%.  German DAX +0.8%.  French CAC +0.4%.  London FTSE flat.

Yesterday in Australia, XJO up just +0.14%.  This morning after 30 minutes of trading it remains flat, up +0.1%.

Stochastic RSI (bottom panel) is up in the "stress" zone.  RSI is close to being overbought - be wary of a change in trend.

BHP is being threatened with strike action at its big Chile copper mine. Down -0.56% this morning.

In sectors, Energy (XEJ) is the biggest loser so far, down -0.95%.  Info.Tech (XIJ) is doing best, up +0.82%.  Financials (XXJ) up modestly +0.2%. 

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

24/11/22.   Finspiration Thursday Morning Report.

U.S. Markets move up overnight.

Dow Jones +0.28%.  SP500 +0.59%.  Nasdaq +0.99%.  Small Caps +0.12%.  Banks +0.32%.

SP500.

SP500 remains in a short-term up-trend.  It is coming up to resistance of the Kumo Cloud.

Stochastic RSI has lifted into the "stress" level (coloured blue).  I'll be looking for a turn down in the RSI to signal a pull-back.  So far, RSI at 55.29 is well below the overbought level of 70.  This could have further to run up.  Stay with the trend.

Commodities.

Commodities Index -1.38%.  Energy -2.64%.  Base Metals flat 0.00%.  Agriculture -0.4%.  Gold +0.62%.

Gold shows a bullish engulfing candle - it is a fairly reliable signal so we may see more upside in Gold.

After 90 minutes of trading this morning, ASX continues to build on recent gains.  XJO up +0.4%.

Bitcoin.

There's nothing to like in this Renko Chart of Bitcoin (USD).  It remains in a strong down-trend.  Avoid.

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

 23/11/22.  Finspiration Wednesday Evening Report

Australian ASX built on yesterday's strong result.

XJO up today +0.7%.

The Renko Chart shows the XJO in an up-trend and above the Kumo Cloud.  That's a positive.

The Chart is getting close to a major horizontal resistance level.

Stochastic RSI is in the "stressed" level where a turn-down can be expected.

This up-trend may end if RSI (first panel below the chart) turns down.  At 66.19  is close to the overbought level of 70 - so an end to this rally may be close.  Stay cautious.

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

 23/11/22.  Finspiration Wed. Morning Report.

Overnight in America.

Dow Jones has broken out to a new high, up +1.18%.  SP500 +1.36%.  Nasdaq +1.36%.  Small Caps +1.18%.  Banks +0.98%.

SP500.

SP500 is bullish on this Candlestick chart with the Index above the Kumo Cloud.  Conversion Line (blue) is above the Base Line Red.  SP500 had a new closing high but not a new intra-day high.

It remains below the 200-Day MA - which will remain a key resistance level.

Renko Chart remains bullish.  Stay with the trend.

Advance-Decline Line (Cumulative)

A-D Line is in an up-trend, confirming the bullish trend in the SP500.

Commodities.

Commodities Index +1.04%.  Energy +1.59%.  Base Metals +0.68%.  Agriculture +0.15%.  Gold +0.12%.

Iron Ore Futures -0.5%.  That's about the only blot on the overnight figures.

After 30 minutes of trading this morning, XJO is up +0.87% building on yesterday's positive move.

Bitcoin.

Bitcoin remains in a down-trend.  Avoid.

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

 22/11/22.  Finspiration Tuesday Evening Report.

This morning, ASX Futures were pointing to a negative start, but that's not how the day turned out.

XJO finished up+0.59% - probably a strong pointer to overseas markets tonight.

Today's finish was a fresh five months' high and above resistance at 7085 - that becomes a new support level.

Next resistance level is at 7227.  XJO finished today at 7181.  So the next resistance level is not far away.

Eight of eleven sectors were up today.  Energy (XEJ) was the best performer +2.6%, with coal miners Whitehaven a New Hope both up >7%.

The only negative sectors were defensives:  Utilities -0.1%,  Staples -0.3%, Industrials -0.3%.

The Renko chart above shows that the XJO is in an up-trend.  Stay with the trend.

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

 22/11/22.  Finspiration Report, Tuesday Morning.

Overnight in America, markets fall.

Dow Jones down just a little -0.13%.  SP500 -0.39%.  Nasdaq -1.09%.  Small Caps -0.33%.  Banks +0.33%.

Defensive Sectors such as Utilities, Real Estate and Consumer Staples performed better than the broad market.

SP500.

Today I'm using an arcane Japanese chart called a Renko Chart.  A new block is added to the chart only after a specified amount of change has occurred.  The Renko Chart continues to show an up-trend although SP500 was down last night - not enough to add a new negative block.

The Index is overbought on Money Flow Index and Stochastic so the next move is likely to be down.

Commodities.

Commodities Index -0.36%.  Energy +0.12%.  Base Metals -1.94%.  Agriculture +0.2%.  Gold -0.56%.

DBC and DBE both show plenty of intra-day buying.  Next move is likely to be to the upside.

Yesterday in Australia.

Yesterday in Australia, the XJO was down just a little -0.17%.  The trend on the Renko Chart remains up - stay with the trend until it changes.

Bitcoin

Bitcoin in USD is in a down-trend.  Avoid until we see evidence that the trend has changed.

Bitcoin was down -2.57% last night.