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

 19/1/2023.    Finspiration Thursday Evening Report.

XJO enjoys another strong day, up +0.6%.

XJO is close to being overbought with an RSI at 69.42.  CCI is showing a negative divergence, so a pull-back may not be far away.

Seven sectors were up today with one flat (XDJ).  Best performer was XMJ (Materials) +1%.  XMJ was helped by a good production report from BHP, up +1.2%, but that was eclipsed by Rio, up 3.3%.  Next best was XHJ (Health) up +0.9%.  Again we have this unusual blend of Offensive and Defensive sectors at the top of the ladder.

Europe in early trade is down solidly.  German DAX down -0.77%, French CAC -0.7%.  UK FTSE -0.59%.

U.S. Futures are also down.  Dow Jones futures -0.38%.  It seems that America is going to continue down after Wednesday night's big fall.

Stay Safe.

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

 19/1/2023.  Finspiration Thursday Morning Report.

U.S. stocks down after opening on the high side.

Dow Jones -1.81%.  SP500 -1.56%.  Nasdaq +1.24%.  Small Caps -1.57%.  Banks -2.56%.

SP500.

Last night was an emphatic rejection of the recent highs.

The index may find support now at the Base Line of the Ichimoku System and the lows that formed in early December.

Commodities.

Commodities were mainly lower.

Commodities Index -1.08%.  Energy -1.73%.  Base Metals +0.51%.  Agriculture -0.66%.  Gold -0.29%.

Although Base Metals finished on the plus side, the big black candle indicates strong intra-day selling.

After an hour of trading, XJO is flat, down just 3 points.

Bitcoin.

Bitcoin followed U.S. stocks lower.

Bitcoin was down -2.5% overnight.  There may be a bit more downside before finding support.  Wait.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets

18/1/2023.  Finspiration Wednesday Evening Report.

XJO had another narrow range day which finished flat, XJO +0.1%.

Two doji, narrow range candlesticks coming at the top of a trend usually means that the index is topping out.

This chart looks promising for the long term investor.  The NH-NL Cumulative is now above the 10-Day MA and the 21-Day MA.  The 10-Day MA is close to a bullish cross-over above the 21-Day MA.

This is a long-term indicator and should not be confused with short-term indicators that can jump around quite a bit.  While the NH-NL Cum stays above the 10-Day MA, long-term investors can feel comfortable about their investments.

Six sectors were up today and five down.  Best performer was XIJ (Info.Tech.) +1.7%.  Next best was XHJ (Health) +0.9%.  That's an odd mix of Offensive and Defensive Sectors.  

Tomorrow, BHP is scheduled to provide a production report.  That could be market moving.

In overseas trading tonight, European indices are mainly flat - much like Australia today.

Stay Safe.

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

 18/1/23.  Finspiration Wednesday Morning Report.

Mixed results in the U.S. overnight.

Dow Jones down -1.14%.  SP500 -0.2%.  Nasdaq +0.14%.  Small Caps -0.35%.  Banks -0.24%.

Goldman Sachs a component in the Dow Jones fell heavily having an adverse effect on the DJ.

SP500.

SP500 appears to be stalling, once again, at the 200-Day MA.  A pull-back here would not surprise.  Watch.

Commodities.

Commodities Index -0.69%.  Energy +0.98%.  Base Metals +0.45%.  Agriculture +0.36%.  Gold -0.65%.

The extraordinary run-up in Base Metals continues.  A pull-back is imminent.

After an hour of trading this morning, the XJO is up marginally, +0.1%.

Bitcoin.

Bitcoin is stalling at horizontal resistance.  I'll wait to see which way this moves out of this small consolidation area.

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

 17/1/23.  Tuesday Evening Finspiration Report.

XJO finished flat today, down just -0.03%.  

Four sectors up today and three flat.   But the nature of the ups and downs was important.  Best three sectors today were defensives:  Staples +1.8% and Health 1% and Property +1.1%.  Materials, however, down heavily -1.1% and Info.Tech. down  -0.8%.  There was a definite feeling of "risk off" in the market.

Tonight in America, earnings season continues.  Results can often jerk the markets around.

Stay Safe.

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

 17/1/23.  Finspiration Tuesday Morning Report.

Overnight, U.S. closed for MLK Holiday.  Europe up modestly.

UK FTSE up +0.2%.  German DAX +0.31%.  French CAC +0.28%.

After an hour of trading today, XJO is down in line with European results -0.2%.  Sector results so far are, however, mixed.  Materials down -1.4%.  Defensives are doing best with Health up +1.4%.

Bitcoin.

Bitcoin was up +6.6% overnight and is now at horizontal resistance of the early Nov. 22 high.  If BTC can overcome that hurdle it is then looking at the 200-Day MA.

The Weekly Chart is showing a triple Supertrend "buy" signal.  That's the first one since Aug, 2021.

That signal resulted in a massive rise from about 30,000 to about 69,000.  As usual, past experience is no guarantee of future rises.  But it does look promising.

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

 16/1/23.  Monday Evening Finspiration Report.

XJO up another +0.82% today.  Up eight out of the past nine days.  That's starting to stretch the friendship.

RSI is still not overbought but getting close to the 70 level.  Today it was at 67.04.

All eleven sectors were up today.  XUJ (Utilities) was the weakest +0.1%.  XMJ (Materials) +0.2%.  BHP and RIO were both flat today.  Both might be about to have a rest or pull-back after very good upside runs.    BHP +0.1%, Rio -0.1%.  FMG was down heavily -2.06%,  All of those big miners were affected by fall in the Iron Ore price -2%.  Rio Tinto releases December quarter production figures tomorrow.  That could have an effect on the price of the big miners.

Tonight, the U.S. is closed for MLK Holiday.  Usually, if Australia is up before an American holiday, ASX is flat the next day or weaker.  Rarely is it up strongly.

In early trade in Europe, stocks are just slightly positive.  Euro STOXX600 +0.9%.  In London, BHP is down -0.9% and Rio is down -1.2%.

Stay Safe.