Finspiration Australia

 10/3/23.  Finspiration Friday Morning Report.

Overnight:  U.S. stocks plunge.

Dow Jones -1.66%.  SP500 -1.85%.  Nasdaq -2.05%.  Small Caps -2.36%.  Banks -7.7%.

RSI for Banks down to 21.41.  That's exceptionally low.  I'll be surprised if that doesn't result in a snap back.

SP500.

SP500 is down close to the 19 Jan. low which might act as support.

CCI (bottom panel) is showing a potential positive divergence which suggests a low is close to being made.  Wait for definite signs of a move back to the upside.

Commodities.

Commodities Index -1.22%.  Energy -1.88%.  Base Metals -1.25%.  Agriculture -0.6%.  Gold sparkled +0.98%.

After more than an hour of trading this morning, XJO is down -1.7%, with no sign of a stop to the selling.

BITCOIN.

Bitcoin fell >8% overnight.  RSI is down below 20.  I'd expect a snap-back rally here now.

Finspiration Australia.

 9/3/23.  Inspiration Thursday Evening Report.

XJO finished flat today after falling from highs around 3.00 p.m.

XJO finished up just +0.05% today.  The intra-day sell-off in the last hour is sometimes an indication that our market things the overnight results will be poor.  Today's doji candle-stick indicates indecision.

Today's action was weighed down by some big stocks going ex-dividend.  BHP fell -2.2%, Rio -2.9% and CSL -2.2%.

Myer was a screamer today, up +18.3% after giving out a good half-yearly report.

Some of the big banks did well today, ANZ +0.7%, WBC +1.2% and NAB +1.5%.  About a week ago I noted that the banks were exceedingly over-sold and to watch for a rebound.  That's coming good now.

Financials (XXJ) chart:

XXJ is back above its 8-Day EMA and Supertrend turned bullish back on Tuesday.  The trend is looking good in the short-term.

In early trading in Europe STOXX down -0.35%.

Dow Jones Futures showing -0.05%, while Nasdaq Futures are down -0.35%.

Finspiration Australia.

 8/3/23.  Finspiration Wednesday Evening Report.

From The Australian.

U.S. Markets down overnight - XJO followed down today.

XJO down today -0.77%, after J. Powell snatched away the punch-bowl just as we were getting ready to dive in.

Today's candle is a bearish engulfing candle pulling down from the 20Day MA and the 50Day MA.  Not a good look.

Trading has begun in Europe and, so far, Europe has avoided a knee-jerk reaction like Australia.  Euro STOXX600 down just -0.2%.  German DAX is up marginally, +0.04%.  Japanese Nikkei was up +0.4% today.

Only two sectors were up today, both defensives, Health +0.3% and Telecommunications +0.2%.

The worst performer was Energy -4.2%.  That was impacted by Woodside going ex-dividend.  WDS was down -7.2%.  

BHP was down -0.63% today in Australia.  In London after ninety minutes of trading this evening BHP is up +1%.  If that is an indication, our market should recover some ground tomorrow.

Finspiration Australia.

 8/3/23.  Finspiration Wednesday Morning Report.

Powell's comments sink U.S. Stocks.  Commodities down

Dow Jones -1.72%.  SP500 -1.53%.  Nasdaq -1.25%.  Small Caps  -1.0%.  Banks -3.87%.

SP500.

Selling was consistent throughout the session.  The three-day candle stick pattern is bearish after failing at the 20-Day MA.  

Last night's session broke below the 8-Day EMA and the 50-Day MA.

Support remains with the Supertrend.  Tonight's action looks crucial.

Commodities.

Commodities Index -2.05%.  Energy -2.8%.  Base Metals -2.46%.  Agriculture -0.15%.  Gold -1.75%.

After one hour of trading this morning, XJO is down -0.9%.  

Bitcoin.

Overnight, Bitcoin was down -1.59%.  It remains below the 50-Day MA and 8Day EMA.  Possible support zone is shown by the shaded rectangle.

Finspiration Australia.

 7/3/23.  Finspiration Tuesday Evening Report.

RBA announced its interest rate decision today, up +0.25%.  That may not be good news for home borrowers, but the stock market liked what it heard.  XJO up +0.49% today.  It was more or less flat when the RBA decision was announced.

I think Blind Freddy could see that this chart is looking bullish.  Today's candle finished above the 8-Day EMA and the 50-Day MA.  The Supertrend has switched from blue to yellow - bullish.

Barring nasty surprises from the U.S. tonight, we should see more upside in the near future.

Finspiration Australia

 7/3/23.  Finspiration Tuesday Morning Report.

A big day for Australian markets and home-owners today with the RBA interest rate decision scheduled for 2.30 p.m.

Overnight in America - mixed results after intra-day selling. Commodities down

Dow Jones +0.12%.  SP500 +0.07%.  Nasdaq -0.11%.  Small Caps down heavily -2.26%.  Banks -0.41%.

SP500.

SP500 saw intra-day selling as it hit the Base Line of the Ichimoku system and the 20-Day Ma.  The next move either up or down could indicate the direction for the next few days.

Commodities.

Commodities Index -0.49%.  Energy -0.49%.  Base Metals -0.15%.  Agriculture -0.34%.  Gold -0.5%.

After nearly two hours of trading this morning, XJO is down a little -0.15%.  Waiting on the RBA.

Bitcoin.

Overnight, Bitcoin was up +0.73%.  It remains in a short-term down trend - looking to target the 50-Day MA and horizontal support.

Finspiration Australia.

6/3/23.  Finspiration Monday Evening Report. 

ASX today showed no fear about tomorrow's RBA Meeting.  XJO up +0.62%.  The market was held back today by falls in recent high fliers, Energy down -1.14%, Materials -0.25% and Utilities -0.47%.  Utilities often trails along behind Energy.

Best performing sectors today were Discretionary +1.95%,  Information Technology +1.77%, Property +1.7% and Financials +1.19.

Chart for XJO:

XJO finished above the 8-Day EMA today but now faces resistance from Supertrend (7/1.5) and the 20-Day MA - middle of the Bollinger Bands.  XJO might consolidate now for a day or two.

Chart for XXJ:

Today XXJ clawed its way back above the 200-Day MA.  It still has to rise above the 8-Day EMA and Supertrend.  But today's action coming off an extremely oversold RSI, suggests we'll see more upside.

Let's hope the RBA doesn't spring any surprises tomorrow.