Finspiration Australia.

 23/2/23.  Finspiration Thursday Morning Report.

Overnight, U.S. stocks mixed.

Dow Jones -0.26%.  SP500 -0.16%.  Nasdaq +0.13%.  Small Caps +0.35%.  Banks -0.34%.

SP500.

SP500 stalled last night at dual support of the 50-Day MA and oblique support from the December low.  That gives the index a good chance of bouncing to the upside.

U.S. Commodities down but Iron Ore up.

Commodities Index -1.3%.  Energy -1.93%.  Base Metals -1.53%.  Agriculture -0.48%.  Gold -0.56%.

Iron ore +1.12%.

After 15 minutes of trading this morning, XJO is down -0.3%.

Rio Tinto reported this morning and in early trade is down >3%, taking BHP with it.  That's the biggest effect on the ASX this morning.

Bitcoin.

Overnight, Bitcoin was down -1.5%, but has been rebounding this morning.

It remains in a sideways consolidation at the top of its range.  Chances are good for another move higher.

Finspiration Australia.

22/2/23.  Finspiration Wednesday Evening Report. 

Again today, like yesterday, we saw the XJO open well down at the opening, but intra-day buying took off most of that selling after the Wages Report came out at 11.30 a.m.  While employment remains strong, wages growth remains muted.  The market took that to mean that pressure has eased on the RBA to raise rates.  So, the market rose at 11.30 a.m., not enough to erase all losses, but the long lower tail on today's candle shows how strong was the intra-day buying.

XJO was down -0.3%.  The bulls are still alive and kicking - but not overcoming the resilience of the bears just yet.

Utilities (XUJ) was the  best performing sector as a result of further news about the take-over of Origin Energy.  XUJ up today +4.8%.

Consumer Staples was the next best performer as a result of Woolies rising +2% after reporting this morning.  Unlike Coles the previous day, there was no backsliding during the day on the WOW price.

Santos also reported and finished u +3.1% and that helped the Energy Sector to finish up +0.9%.

Despite heroics by bulls in the past two days, the trend in the ASX remains to the downside.

A positive divergence on Stochastic suggests we could see some upside.  We need to see a strong bullish candle for that to happen.

In overseas markets, Europe has opened to the downside, but Dow Futures are currently flat.  Anything can happen between now and close of trading in NY.

Finspiration Australia.

 22/2/23.  Finspiration Wednesday Morning Report.

Overnight:  U.S. stocks down heavily.

Dow Jones -2.06%.  SP500 -2%.  Nasdaq -2.5%.  Small Caps -2.98%.  Banks -2.67%.

SP500.

SP500 is now down to a major support level.  After such a big down day, we may see a bounce here.  A lot of resistance lies over-head, so any rally is likely to be sold into.

New York Highs-Lows Cumulative remains bullish - above the 10-Day MA.  That's unlike the OZ NH-NL Cum which is now well below the 10-Day MA.  

Commodities.

Commodities Index +0.13%.  Energy -0.12%.  Base Metals +1.75%.  Agriculture +0.98%.  Gold -0.37%.

After 45 minutes of trading this morning, XJO is down -0.8%.  

WOW reported this morning and is up +1.01%,

Bitcoin.

Bitcoin was down -2.21% overnight but stabilised this morning.  It is consolidating at the top of its range.

Stay with the trend.

Finspiration Australia.

 21/2/23.  Finspiration Tuesday Evening Report.

It was BHP Day today on the ASX.  It reported before the market opened and fell once trading began, to be down around -2%.  But later in the day, buying came into the stock and that led BHP and the ASX to finish with small losses for the day.

First:  XJO.

The XJO was down -0.21% today.  The long lower wick on today's candle shows the extend of the intra-day buying.  

The past todays show doji candle-sticks - indecision.  Coming at the low end of a down trend that could be signalling the end of the trend.  We need to see a bullish candle and a break above the 8-DEMA.  That's the down-sloping grey line which has provided resistance since 9/2/23.

BHP:

BHP finished down -0.33% but finished up well above its opening price.  It has nudged back into "No Man's Land" and marginally above the 8-Day EMA.  That is looking positive.

Coles also reported before the market opened.  It did the opposite of BHP.  Up at the opening and then sold off.

COL remains in the top half of the Bollinger Bands (bullish zone) but today's wide ranging bearish candle looks ominous.  I'm expecting more downside for COL.

The U.S. reopens tonight after Washington's Birthday Holiday.  

Finspiration Australia.

 21/2/23.  Finspiration 11.30 a.m. update.

RBA held no nasties for the market.  After the minutes were released, the market barely moved.  At 10.45 a.m., XJO is down -0.5%.

BHP has remained around the -2% down.  Currently at -1.9%.

The big mover this morning has been Coles.  Shortly after opening this morning, Coles was up about +0.8%.  The market has re-assessed its report and Coles is now down -1.8%.  That's a big intra-day fall.

Inspiration Australia.

21/2/23.  Inspiration Tuesday Morning Report.

U.S. Markets closed overnight.  Europe markets little changed.

The big changes for Australia this morning were reports from BHP and Coles.

At 10.10 a.m., BHP was down about -2% but jerking around trying to find a base price..  Coles up, about +0.7%.

XJO is down -0.6%.

Gold flat overnight, -0.09%.  Bitcoin up about +0.4%.

RBA minutes due at 11.30 a.m. Summer time.  I'll give an update on the market soon after that time to see if any reaction occurs.

Here's a summary from Reuters of the BHP report:

Global miner BHP Group (BHP.AX) was positive about demand outlook through to fiscal 2024 as top metals consumer China reopens and shifts policy towards its debt-laden property sector, the company said on Tuesday after its 2023 first-half profit missed estimates.

However, its interim dividend of 90 cents per share, while lower than last year's $1.50 per share, beat Vuma Financial's estimate of 88 cents.

Finspiration Australia.

 20/2/23.  Finspiration Monday Evening Report.

A "nothing" day today on the ASX.  XJO up +0.06%.  It was a narrow range day with a doji candlestick.

XJO remains short-term bearish.  Today's action is marked by that tiny little cross at the end of the down-trend.

Tomorrow, the NY Stock Exchange is closed for Washington's Birthday.  That probably explains the lack of interest in our market today.

Let's see what tomorrow brings.  Among other things, BHP reports tomorrow - that could be market changing.