Finspiration Australia.

  24/2/23.  Finspiration Friday Morning Report.

Overnight, U.S. stocks rise after four days of losses.

Dow Jones +0.33%.  SP500 +0.53%.  Nasdaq +0.72%.  Small Caps +0.68%.  Banks +0.32%.

Note the extra long lower wick on the Dow Jones.  That suggests a big change in investor sentiment from bearish to bullish.

SP500.

SP500 showed strong intra-day buying at dual support of the 50-Day MA and oblique support from the December low.  That suggests this pull-back may be over.  But plenty of resistance lies overhead.

Watch for a positive opening tomorrow.

U.S. Commodities were mixed.

Commodities Index +0.76%.  Energy +1.8%.  Base Metals -1.56%.  Agriculture -0.1%.  Gold -0.0.5%.

Iron ore +0.1%.

After 30 minutes of trading this morning, XJO is flat -0.01%.

Bitcoin.

Overnight, Bitcoin was up modestly last night +0.32%, and flat in morning trade.

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

Finspiration Australia.

 23/2/23.  Finspiration Thursday Evening Report.

XJO down today, -0.4%, after poor report from Rio Tinto.

XJO is now sitting at the 50-Day MA, which may provide support.

The market would become a "buy" with a break above the 8-Day EMA.  Until that happens, presume the market is still in a down-trend.  More conservative traders might wait until Accumulation/Distribution (second bottom panel) crosses above its signal line.

On the RSI, the index is now oversold as it is below the 40 level.

Stochastic and CCI are both showing a positive divergence, increasing the chances of a move to the upside.

Rio reported today and the stock fell -1.68%, but that report also took BHP down -3.41%.

As a result, Materials (XMJ) was down -1.6%, and the worst performing sector today.

Currently, European stocks are trading higher and Dow Jones Futures are up +0.32%.  That's looking promising for our market tomorrow.

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.