Chart Analysis on this Blog is purely descriptive.  It is written for informational and educational purposes and should not be taken as financial advice.  Do your own research or seek advice from a Registered Financial Advisor.

22/12/22.  Finspiration Thursday Morning Report.

Is the Santa Rally Dead?

Overnight:  U.S. down, Europe down, Commodities down.  Bitcoin flat.  

 

Dow Jones -1.05%.  SP500 -1.45%.  Nasdaq -2.18%.  Small Caps -1.23%.  Banks -0.45%.

Note the long tails on last night candles.  That indicates plenty of intra-day buying.  Santa might have had a hitch last night, but he is still getting up to speed.

SP500.

Last night's candle pushed well below the Kumo Cloud, but intra-day buying pushed it back above the Cloud.  Above the Cloud retains the medium=term bullish outlook.

Commodities.

Commodities Index -1.27%.  Energy -1.57%.  Base Metals -1.07%.  Agriculture +0.25%.  Gold -1.21%.

Commodities Index continues to run into resistance at the 50-Day MA.  It needs to get over that barrier before further progress can be made.  Gold has pulled back to support of the 20-Day MA - but remains in its medium-term up-trend.

In early morning trade in Australia is down -0.9%.

Bitcoin.

BTCUSD flat +0.01% overnight.

BTCUSD remains below resistance of the Base Line of the Ichimoku system. That's a bearish sign.

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

 Chart Analysis on this Blog is purely descriptive.  It is written for informational and educational purposes and should not be taken as financial advice.  Do your own research or seek advice from a Registered Financial Advisor.

22/12/22.  Finspiration Evening Report.

XJO up moderately today.

XJO was up today +0.53% after bouncing convincingly off the 200-Day MA.  Today it finished above the Conversion Line of the Ichimoku System.  It now faces resistance at the Ichimoku Base Line.  That's a tougher nut to crack.

Breadth was good with 10 out of 11 sectors positive.  The only negative sector was Materials (XMJ).  That's disappointing as Iron Ore Futures were up overnight.

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

Chart Analysis on this Blog is purely descriptive.  It is written for informational and educational purposes and should not be taken as financial advice.  Do your own research or seek advice from a Registered Financial Advisor.

22/12/22.  Finspiration Thursday Morning Report.

Sleigh Bells heard Wall Street last night.

Overnight:  U.S. up, Europe up, Commodities up.  Bitcoin down.  

 

Dow Jones +1.6%.  SP500 +1.49%.  Nasdaq +1.54%%.  Small Caps +1.55%.  Banks +1.56%.

Breadth was good, strength was seen across the market.  All eleven U.S. Sectors were up.

SP500.

SP500 gapped up at the open and was strong for most of the day.  That suggests that the recent pull-back may be over.  Resistance overhead from both the Conversion Line and Base Line of the Ichimoku system may hold the advance.

Commodities.

Commodities Index gapped up open and finished  +1.29%.  Energy +2.3%.  Base Metals -0.61%.  Agriculture +1.11%.  Gold -0.17%.

Iron Ore Futures +2.7%.  That should help our big miners today.

In early morning trade in Australia is up >0.6%.

Bitcoin.

BTCUSD down -0.53% overnight.

BTCUSD remains below resistance of the Base Line of the Ichimoku system. That's a bearish sign.

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

21/12/22.  Finspiration Wednesday Evening Report.

XJO up strongly today +1.3%.

XJO remains in a short-term down-trend, but today's action is (almost) a bullish engulfing pattern.

Is close enough, good enough.  Probably.

Go long - short-term.

Having said that, Ichimoku is still shot-term bearish.  Take your chances.

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

21/12/22.  Finspiration Wednesday Morning Report.

Sleigh Bells heard over Sydney Stock Exchange this morning.

Overnight:  U.S. up, Europe mixed, Commodities mixed.  Bitcoin up.

 

Dow Jones +0.28%.  SP500 +0.1%.  Nasdaq +0.01%.  Small Caps +0.32%.  Banks +0.09%.

SP500.

A narrow range day finding support at the top of the Kumo Cloud.  Look for confirmation in the next session - a solid up day.  That should be the start of a Santa Rally.

Commodities.

Commodities Index +0.46%.  Energy -0.325%.  Base Metals +1.29%.  Agriculture +0.76%.  Gold up strongly, +4.41%.

In early morning trade in Australia is up >1%.

Bitcoin.

BTCUSD up +2.65% overnight.

BTCUSD remains below resistance of the Conversion Line of the Ichimoku system.  It has struggled to find direction this morning after last night's solid performance.  Wait.

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

 20/12/22.  Finspiration Evening Report.

XJO down -1.54%.

That's a massive down candle which usually results in a rebound the next day.

The main damage today was done at 2.00 p.m. when Japanese data came in.  Japanese central bank widened its target interest range.  Nikkei fell more >2% and the other stock markets followed suit.

Here's the XJO one day chat.

Such an extreme downside reaction is likely to create an upside reaction.  That's not evident yet in the XJO chart.  We should see that in tomorrow's intra-day chart.  

Let's see what tomorrow brings.

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

20/12/22.  Finspiration Tuesday Morning Report.

Europe up, America down, Commodities down, Bitcoin down. 

Overnight in America:

Dow Jones -0.49%.  SP500 -0.9%.  Nasdaq -1.49%.  Small Caps -0.75%.  Banks flat -0.02%.

SP500.

SP500 is down to support of the Kumo Cloud.  Kumo Cloud is very thin at this point so it may not provide much support.

RSI is down oversold, so there's a chance we will see a bounce here.

Commodities.

Commodities Index -0.19%.  Energy flat +0.09%.  Base Metals -0.59%.  Agriculture flat +0.03%.  Gold -2.07%.

Gold continues to hold at support of the 20-Day MA.

Iron Ore -0.21%.

Oz Overnight Futures -0.38%.

Bitcoin.

Overnight, Bitcoin in USD was down -1.94%.  Bitcoin continues to trend lower - avoid.