25/5/23. Thursday Evening Finspiration Report.

Australian market down heavily today.

XJO down today -1.05%

Today was the fourth day down in a row and the biggest decline so far.

The chart is bearish, but today's decline was so large we could see some upside action tomorrow.

Europe has opened on the down side.  German DAX -0.46%.  UK FTSE -0.34%.  French CAC -0.33%.

American Futures are looking more promising, although Dow Futures are down -0.28%.  SP500 Futures +0.52%.  Nasdaq +1.62%.

That suggests a better night in the U.S. tonight (Oz time).
 

25/5/23. Thursday Morning Finspiration Report.

 U.S. Stocks down.  Energy up. Base Metals down.

Dow Jones -0.77%.  SP500 -0.72%.  Nasdaq -0.61%.  Mid caps -1%.  Small Caps -1.27%.  Banks -1.77%.

SP500.

SP500 is sitting on the 50-Day MA which could act as support.

Currently, this is a news driven market.  Or, perhaps we should say, a no-news driven market, as the Debt Ceiling talks drag on, with no resolution in sight.

Both sides playing brinkmanship - which will resolve before disaster occurs.

Commodities.

Commodities Index flat +0.04%.  Energy up +1.22%.  Base Metals -1.57%.  Agriculture -0.53%.  Gold -0.81%.

Australian Futures down about -0.5% - so we'll have another weak opening.

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24/5/23. Australian Market falls heavily today.

 XJO Down -0.65%.

XJO has support of the Supertrend just below it.  Then it will hit the 200-MMA where it's been a couple of times recently.

U>S. Futures are down, SP500 futures down -0.99%.  

EuroSTOXX600 currently down -1.6%.

It's not looking too hopeful for tonight or tomorrow.

24/5/23. U.S. markets very weak.

 

Dow Jones -0.69%.  SP500 -1.12%.  Nasdaq -1.26%.  Mid Caps -0.99%.  Small Caps -0.11%.  Banks +0.65%.

SP500.

SP500 has broken below the lower support line of the up-sloping bearish wedge.

Just below is a bunch of indicators - 20-Day MA, Supertrend and Kijun Sen (Ichimoku Base Line).  A break down through those will probably see more falls - looking to the 200 Day MA.

Commodities.

Commodities Index +0.4%.  Energy +0.77%.  Base Metals continue to slide -1.87%.  Agriculture -0.1%.  Gold flat +0.12%.

In New York, BHP was down -1.5%.  Rio down -1.76%.  Woodside flat -0.09%.

ASX Futures down -35 Points - about -0.5%.

23/5.23. ASX finishes Flat.

XJO Chart.

 XJO down marginally today -0.05%,

The Index is above the 200-Day MA and the Supertrend (7/1.5) but sitting right on the 20-Day MA (mid-point of the Bollinger Bands) and the Kijun Sen (mid-point of the past 26Days).  So this could go either way.  If it falls, there is plenty of near-by support.

Wait.

Finspiration Australia.

 23/5/23.  Tuesday Morning Finspiration Report

Overnight.  Mixed results in the U.S., Down Down, Nasdaq Up.

Dow Jones -0.42%.  SP500 +0.02%.  Nasdaq +0.5%.  Mid Caps +0.52%.  Small Caps +0.74%.  Banks +1.75%.

SP500.

 All indicators on this chart remain bullish - but the upsloping wedge suggests a move to the downside.

Ambiguous.

Commodities.

Commodities Index flat +0.09%.  Energy flat -0.05%.  Base Metals down -1.3%.  Agriculture flat -0.1%. Gold down a little -0.23%.

After 20 minutes of trading this morning, XJO is up +0.3%.  Energy is leading the way, up +1.2%.

XJO remains in its sideways consolidation.

Finspiration Australia.

22/5/23.  XJO finished down a little today.

 

XJO down -0.22%.  It is still basically in a sideways consolidation pattern.  It needs to finish above the Supertrend Line (that's the blue line just above the chart heading sideways).

Dow Futures are currently flat - 0.0%.

It seems that not much will happen until the Debt ceiling discussions are finalised.