Finspiration Australia.

       4/2/2023.  Finspiration Saturday Morning Report.

U.S. Friday's Job Report:  Unemployment rate in U.S. falls to lowest since 1969.

Friday Stocks:  Oz up, US down, UK all time high, Commodities down.  

Yesterday in Australia.

Yesterday, XJO surged higher +0.63%.  RSI is overbought at 73.9.  That's the highest level in more than twelve months.  That suggests we've seen a phase shift from bearish to bullish phases.   It would, however, seem to me to be unwise to be buying at this level.  It would also, however, be unwise to sell until we see definite signs of a pull-back.

Take a look at the chart below for XJO over the past twelve months.  Overlaid on the chart are two sets of Bollinger Bands, both with a mid-point of the 20-DMA but Standard Deviations of 1SD and 2SD:

Zone between +1SD and +2SD is a bullish zone.  Zone between -1SD and -2SD is a bearish zone.  Between +1SD and -1SD is No Man's Land.

XJO can stay in the bullish zone for long periods of time.  A "sell" signal is usually generated when (1) MACD Histogram falls below zero (it is almost there now) and, (2) the Index breaks below the mid-line of the Bollinger Bands (20-DMA).  (Unless, of course, you are a short-term trader where different conditions apply).  XJO is still well above the 20-DMA.   Wait.

In the U.S.

Dow Jones -0.38%.  SP500 -1.04%.  Nasdaq -1.59%.  Small Caps -0.38%.  Banks -0.3%.

SP500.

The long upper wick on the most recent candle indicates a volatile session, going higher than lower.  Plenty of intra-day selling.  The Jobs Report in the U.S. was very good - the market went up, then reconsidered (higher interest rates), then went down.

Commodities - smashed.

Commodities Index -2.52%.  Energy -3.23%.  Base Metals -2%.  Agriculture -0.55%.  Gold -2.5%.

BHP in NY -0.7%, Rio in NY -0.59%

None of this is looking good for the XJO on Monday.

Bitcoin.

Bitcoin was down -0.62% last night. It continues in it s consolidation pattern, floating around the 200-Day MA.

It is currently finding support of the Conversion Line of the Ichimoku System.  A break below that would probably see a test of the Base Line.  Wait.

      3/2/2023.  Finspiration Friday Morning Report.

Dow Jones flat, Nasdaq up, Commodities down.

Dow Jones -0.11%.  SP500 +1.47%.  Nasdaq +3.26%.  Small Caps +2.38%.  Banks +1.15%.

Meta led the tech stock gains, up +23%.  

SP500.

Big gap up last night after Meta results.  Index is now close to overbought on the RSI, 69.14.  Stay with the trend, but expect a pull-back,

Commodities.

Commodities Index -0.74%.  Energy -1.08%.  Base Metals -1.47%.  Agriculture +0.4%.  Gold -2.08%.

XJO, after 20 mins of trading, is down -0.13%.

Bitcoin.

Bitcoin was down -0.65% last night. Last night's action is shown in the second candle from the right.  This looks like a failed break-out.  Watch for further selling overnight on Friday.

Finspiration Australia.

 2/2/23.  Finspiration Evening Report.

XJO up a little today after intra-day selling knocked the top off a good rally.

XJO finished up just +0.13%.

The past three days all show intra-day selling.  The long upper wicks on the past three candles all show that intra-day selling.

The bears are active in this market, but haven't yet been able to dominate.  No knowing if they will, but once they get to work they usually prevail.

Until we see clear evidence of a pull-back, stand with the up-trend.

FINSPIRATION AUSTRALIA.

     2/2/2023.  Finspiration Thursday Morning Report.

Dow Jones flat, Nasdaq up after Fed. interest rate announcement.

Dow Jones +0.02%.  SP500 +1.05%.  Nasdaq +2%.  Small Caps +1.49%.  Banks +0.56%.

SP500.

More upside after recent test of support.  Stay with the trend.

Commodities.

Commodities Index-1.89%.  Energy -3.4%.  Base Metals -0.73%.  Agriculture -0.69%.  Gold +1.26%.

XJO, after 90 mins of trading, is up +0.4%

Bitcoin.

Bitcoin was up >3% last night.  It moved back above the 200-DMA last night.  It continues to lie within its consolidation zone and remains above the 8-Day EMA and Supertrend.  Investor sentiment remains positive while it remains above those two indicators.  Watch for a definite move above the recent high for a break-out of the consolidation zone.

Finspiration Australia

 1/2/23.  Finspiration Evening Report.

XJO up +0.33% today after being up much higher early in the day.

Today's action could be a failed breakout.  Early trading took the Index above the high of Tuesday's action then fell back below that high.

Below is a three-day chart which clearly shows the failed break-out.

We need to see continued selling on Thursday to confirm the failed break-out.

FINSPIRATION AUSTRALIA.

    1/2/2023.  Finspiration Wednesday Morning Report.

U.S. stocks push higher after Monday's sell-off.

Dow Jones +1.09%%.  SP500 +1.4%.  Nasdaq +1.67%.  Small Caps +2.53%.  Banks +1.69%%.

SP500.

On Monday, SP500 fell back to the 8-DEMA and the old oblique resistance line.  That has held as support which suggests more upside.  

Commodities.

Commodities Index+1.72%.  Energy +2.03%.  Base Metals +1.2%.  Agriculture +1.25%.  Gold +0.36%.

XJO, after 60 mins of trading, is up +0.8%

Bitcoin.

Bitcoin was up 0.8% last night.  It continues to lie within its consolidation zone and remains above the 8-Day EMA and Supertrend.  Investor sentiment remains positive while it remains above those two indicators.  Watch for a definite move above 200-DMA>

 31/1/23.  Finspiration Monday Evening Report.

XJO finished down just a little again today -0.07%.   A surprise came early in trading with the XJO up strongly but it gave back the early gains to finish more or less flat.  Today's range was a narrow range inside the range of the previous day - that's indecision.

 

It's too early to say that this is the start of a pull-back, but it could be.  XJO remains above the 8-Day EMA and Supertrend (7/1.5).  A break to the downside of those two would signal a short-term pull-back.

The three big iron ore miners did well today, BHP +0.3%, Rio +0.9% and FMG +0.23%.  Despite that XMJ (Materials) fell heavily -0.8%.  That's unusual.  So what happened.  Look no further than the Lithium Miners: Allkem -7.5%, Lake Resources -6.9%, Novonix -6.2% and Liontown -5.7%.

Woolworths surprised to the upside +3.8% after an encouraging assessment by a broker

It's a big week for Central Banks this Week with U.S., U.K. and Europe all making interest rate announcements later this week.  Those announcements are likely to be market movers.  Until those announcements we'll probably continue to see our market waffle around.