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

 10/12/22.  Finspiration Saturday Report.

Overnight, U.S. stocks retreat after late plunge.

Dow Jones -0.9%.  SP500 -0.73%.  Nasdaq -0.7%.  Small Caps -1.07%.  Banks +0.05%.

SP500.

SP500 remains at the low edge of its recent short-term pull-back.  That lengthens the odds that the pull-back will continue.

Very good support remains nearby:  horizontal support, Ichimoku Base Line, top of Kumo Cloud.

Resistance remains overhead:  200-day MA, Supertrend Line, Ichimoku Conversion Line.

The Index remains in the lower half of the upsloping Andrew's Pitchfork.  The Index could retreat a fair way before falling out of the Pitchfork and still remain bullish.

This is a battle between bulls and bears.  Wait.

Commodities.

Commodities Index +0.13%,  Energy +0.52%.  Base Metals -0.68%.  Agriculture -0.51%.  Gold +0.35%

Energy is the dominant factor in the Commodities Index.  Downside momentum appears to be weakening.  This can go either way but the greater risk is to the upside.

Yesterday in Australia.

Yesterday, the XJO was up moderately, +0.59%.  Like the SP500 it is teetering between support and resistance.  Wait.

Bitcoin.

Bitcoin in USD was down overnight -0.41%.  It continues to consolidate at the low end of its long-term bear market.  

I'd avoid BTC until I saw clear evidence of a return to bullish conditions.

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

9/12/22.  Finspiration Morning Report.

U.S. Stocks move higher.

 Dow Jones +0.55%.  SP500 +0.75%.  Nasdaq +1.13%.  Small Caps +0.46%.  Banks +0.18%.

SP500.

SP500 remains above triple support (horizontal support, top of Kumo Cloud, Ichimoku Base Line) and in the lower half of the up-sloping Andrew's Pitchfork.  It now has triple overhead resistance - Supertrend Line, Inchimoku Conversion Line and 200-DMA.  Between a rock and a hard place.

I would have liked to see a more convincing movement to the upside last night.  This looks more like consolidation than a rebound.

Commodities.

Commodities Index -0.17%.  Energy -0.58%.  Base Metals +0.05%.  Agriculture +0.05%.  Gold +0.08%.

After one hour of trading this morning, the XJO is up modestly +0.4%.

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

 8/12/22.  Finspiration Evening Report.

XJO followed the U.S. down last night.

XJO -0.75%.

XJO is now in a short-term down trend.  The next support level is at 7100 - the Base Line of the Ichimoku System.

The worst performing sector today was Energy (XEJ) down -2.73%.  There's not any indication yet that Energy is bottoming, but it is not far away.

Financials (XXJ) were down heavily today, -1%.  Again there is no sign yet that it is bottoming, but is not too far away.

This will turn around soon.

Stay Safe.

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

 8/12/22.  Finspiration Morning Report.

Choppy Trading in the U.S. sees Dow finish flat.  Energy rout continues.

Dow Jones +0.00%.  SP500 -0.19%.  Nasdaq -0.51%.  Small Caps -0.47%.  Banks +0.22%.

Three defensive sectors finished on the positive side, Health, Staples and Property.

The yield curve continues to invert and is now at levels not seen since the 1980's.  That says the U.S. will be in recession sometime next year.  Looks like the Fed. has overdone the interest rate increases.

SP500.

SP500 finished with a doji candlestick - shows indecision in choppy trading.

The Index is almost down to triple support - top of the Kumo Cloud, Ichimoku Base Line and horizontal support.  That's likely to hold.  Wait.

Commodities.

Commodities Index -0.5%.  Energy -1.88%.  Base Metals +1.53%.  Agriculture +0.1%.  Gold +0.9%.

Iron Ore Futures +0.66%.

Bitcoin.

Bitcoin was down -1.3% last night.  That's not enough to move the Renko Chart.

Bitcoin continues to consolidate at the lower end of its down-trend.  I'd avoid BTC until we see some more solid upside movement.

ASX Futures -0.15%.  That suggests a soft opening for the ASX today.

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

 7/12/22.  Finspiration Wednesday Evening Report.

ASX follows overnight markets today.

XJO down -0.85%.

This is a Renko chart of the XJO.  Renko chart have the advantage of eliminating "noise" in charts.

This chart shows its first weakness since mid-October.  That's not enough for a "sell" signal.

But - the chart was overbought on the RSI (above 70) and in the "stress" zone on the Stochastic RSI.

Expect further downward movement.  Plenty of support exists nearby, so any pull-back is likely to be bought.

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

 7/12/22.  Finspiration Morning Report.

U.S. stocks fall for fourth day.  Energy down heavily.

Dow Jones -1.02%.  SP500 -1.44%.  Nasdaq -2%.  Small Caps -0.94%.  Banks -1.63%.

Ten our of eleven U.S. sectors fell.

SP500.

SP500 is down almost to critical triple support.  Expect a slowing of the downside movement or intra-day buying tomorrow.

The Index remains in the lower half of the up-sloping Andrew's Pitchfork.

Commodities.

Commodities Index -1.6%. Energy -3.15%.  Base Metals +0.54%.  Agriculture -0.71%.  Gold +0.27%.

Iron Ore Futures +0.3%.

Bitcoin.

In USD Bitcoin was up +0.5%.

Bitcoin continues to consolidate at the low end of its long down-trend.  Positive divergences on RSI and Stochastic RSI suggest a move to the upside might occur.

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

 6/12/22.  Evening Report.

Australian market down moderately today.  XJO down -0.47%.

XJO remains in a consolidation pattern. The Conversion Line of the Ichimoku pattern may provide support.

If that fails we have support from the Base Line at 7100 (round figures).  XJO currently at 7291.  I'm not expecting that to come into play.

XJO is in a strong upside trend.  Stay with the trend.