Finspiration Australia.

  3/3/23.  Finspiration Friday Morning Report.

Overnight in the U.S., Stocks lift after soothing words from Fed. hawk.

Dow Jones +1.05%.  SP500 +0.76%.  Nasdaq +0.73%.  Small Caps +0.28%.  Banks -1.78%.

The three candle pattern on the Dow Jones is a bullish pattern

SP500.

Last night's candle is a bullish engulfing candle, coming off the 200-Day MA adds importance to last night's rise.  That's promising but I'd like to see confirmation by the SP500 crossing above the 8-Day EMA.

Commodities missed the boat last night.

Commodities Index -0.37%.  Energy +0.18%.  Base Metals -2.3%.  Agriculture -0.59%.  Gold -0.06%.

Iron Ore +0.2%.  That rise in the IO price should blunt the impact on our big miners by the fall in Base Metals.

Bitcoin.

Bitcoin down -0.8% overnight.  The crypto is in a sideways consolidation now in the "neutral" zone and oscillating around the 20-Day MA which is basically flat.

The 50-Day MA has crossed above the 200-Day MA which would complete a "Golden Cross", a bullish event.

Finspiration Australia.

2/3/23.  Finspiration Evening Report. 

How Flat is Flat?  

XJO up just +0.05% today after being well up at middday.

For the second day in a row, XJO has finished more or less flat.

Positive sectors were again Energy +1.4% and Materials +2.9%.  All other nine sectors were flat with Financials worst -1.9%.  Financials are close to a level where they will see some buying coming into the sector.

Here's MVB (ETF for the Banks):

RSI is now at 26.95 - that's extremely oversold.

Coles and Woolworths both went ex-dividend today - that pushed the Staples down -1.3%.

In early trading in Europe, STOXX600 is down -0.47%.  Dow Futures flat -0.06%, but SP500 Futures down -0.66%.

Finspiration Australia.

 2/3/23.  Finspiration Tuesday Morning Report.

Overnight in the U.S., Dow Jones flat, SP500 and Nasdaq down.  Commodities strong.

Dow Jones +0.02%.  SP500 -0.47%.  Nasdaq -0.66%.  Small Caps +0.21%.  Banks -0.29%.

Dow Jones shows plenty of intra-day buying to finish flat after being well down during the course of the session

SP500.

SP500 is oscillating around the 50-Day MA but above the 200-Day MA.  Last Friday looks like a "spring" - a precursor to a trend change to the upside, but we still need to see a decisive move to the up-side to confirm.

It remains below the 8-Day EMA and the mid-line of the Bollinger Bands.  We need to see the SP500 in the top half of the Bollies before feeling comfortable.

It's not unusual after a "Golden Cross" for the market to come back and test the important MAs (50 & 200).  At this stage the test seems to have been successful.

Commodities.  Mixed Results.

Commodities Index +1.73%.  Energy +1.64%.  Base Metals +2.92%.  Agriculture +0.64%.  Gold +0.58%.

After 20 minutes of trading this morning XJO is up modestly, +0.17% on the back of stronger Energy and Mining stocks.  The rest of the market is doing poorly.

Bitcoin.

Bitcoin up +1.85% overnight.  The crypto is in a sideways consolidation now in the "neutral" zone and oscillating around the 20-Day MA which is basically flat.

The 50-Day MA has crossed above the 200-Day MA which would complete a "Golden Cross", a bullish event.

Finspiration Australia.

 1/3/23.  Finspiration Wednesday Night Report.

XJO was flat today.

The chart candles show two "inside babies".  Two small candles well within the range of Monday's wide range candle.  That's usually a bullish sign but needs confirmation of a big upside day.

Stochastic (bottom panel) has been in the oversold section below 20 for over three weeks.  That's plenty of time to elapse before a move to the upside.

Despite the flat finish there was plenty of action today.  The market was well down by 11.00 a.m. but then the GDP figures came out - which were disappointing.  Bad news was good news - so the market rebounded - hoping for some easing of interest rate rises.

Energy was up +1.6% today, but that was eclipsed by Materials, up +2.3%.

They were the only two sectors positive today.  Telecoms was worst -2.3%.  Financials didn't fare well, down -1%.

Let's see if we get a good upside move tomorrow.

Finspiration Australia.

1/3/23.  Finspiration Tuesday Morning Report.

Overnight, Mixed results in the U.S.

Dow Jones -0.71%.  SP500 -0.3%.  Nasdaq -0.1%.  Small Caps -0.07%.  Banks +0.3%.

Dow Jones was well down, other indices were indecisive with doji candle-sticks.

SP500.

SP500 is oscillating around the 50-Day MA but above the 200-Day MA.  Last Friday looks like a "spring" - a precursor to a trend change to the upside, but we still need to see a decisive move to the up-side to confirm.

It remains below the 8-Day EMA and the mid-line of the Bollinger Bands.  We need to see the SP500 in the top half of the Bollies before feeling comfortable.

It's not unusual after a "Golden Cross" for the market to come back and test the important MAs (50 & 200).  At this stage the test seems to have been successful.

Commodities.  Mixed Results.

Commodities Index +0.3%.  Energy +0.95%.  Base Metals +1.25%.  Agriculture -0.25%.  Gold +0.46%.

After 90 minutes of trading this morning XJO has rebounded from early lows and is now down about >0.2%. The Mining Index is up about +1%.

Bitcoin.

Bitcoin down about -1% overnight.  The crypto is in a sideways consolidation now in the "neutral" zone and oscillating around the 20-Day MA which is basically flat.

The 50-Day MA has crossed above the 200-Day MA which would complete a "Golden Cross", a bullish event.

Finspiration Australia.

 28/2/23.  Finspiration Tuesday Morning Report.

Overnight, U.S. fades from early highs..

Dow Jones +0.22%.  SP500 +0.31%.  Nasdaq +0.63%.  Small Caps +0.2%.  Banks +0.23%.

Lots of doji candle-sticks, lots of intra-day selling last night, lots of indecision.

SP500.

The past two days have seen the SP500 claw back above the 50-Day and 200-Day MAs.  That's a positive.

It remains below the 8-Day EMA and the mid-line of the Bollinger Bands.  We need to see the SP500 in the top half of the Bollies before feeling comfortable.

It's not unusual after a "Golden Cross" for the market to come back and test the important MAs.  At this stage the test seems to have been successful.

Commodities.  Mixed Results.

Commodities Index +0.08%.  Energy -0.33%.  Base Metals +1.01%.  Agriculture -0.1%.  Gold +0.39%.

After an hour of trading, XJO is up +0.65%.

Bitcoin.

Bitcoin up +1.19% overnight.  The crypto is in a sideways consolidation now oscillating around the 20-Day MA which is basically flat.

The 50-Day MA is about to cross above the 200-Day MA which would complete a "Golden Cross", a bullish event.

Finspiration Australia.

27/2/23.  Finspiration Monday Evening Report.

XJO fell heavily today, -1.12%, following the big fall in New York on Friday.

XJO fell below the important 50-Day Ma today.

It remains below the 8-Day EMA.  It first fell below that EMA on 9 February.   I'd stay away until we see at least a break to the upside of the 8-DEMA.

The index is still not down to my preferred support zone - but anything can happen now.  

The Index is oversold with an RSI at 35.22.  CCI is showing a positive divergence - but that doesn't mean much until we see a good upside break.

Energy (XEJ) was the best performer today, +0.3%.  Financials (XXJ) finished flat despite the big fall today.  The killer today was, again, Materials (XMJ), down -3.1%.  With XXJ showing resilience, this market will only need an upside movement from XMJ to start flying to the upside.

European markets are currently up strongly.  German DAX up +1.16%, French CAC +1.11%.

American SP500 Futures are currently up +0.43% - following the Europeans to the upside.

At this stage, it is looking good for Australia tomorrow.