9/6/23. Friday Morning Finspiration Report.

U.S. major indices gain overnight, but secondaries take a breather.

 Dow Jones +0.5%.  SP500 +0.62%.  Nasda +1.02%.  Mid Caps -0.44%.  Small Caps -0.63%.  Banks -0.46%.

SP500.

SP500 continues to consolidate at the top of its range and close to major horizontal resistance.

The chart remains bullish.  A pull-back will probably be a buy-the-dip opportunity.

Commodities.

Commodities index +0.19%, Energy -1.46%.  Base Metals +1.11%.  Agriculture _1.69%.  Gold +1.32%.

BHP and Rio were both up more than +1% in New York.

We should have a positive start to today's trading.

8/6/23. Thursday Evening Finspiration Report.

 XJO fell today - 0.26%.

The chart remains bearish, but could form a double bottom.  RSI is showing a possible positive divergence.

Implied Volatility - Historical Volatility is getting down to a very low level near where it has reversed before in late March.

Consumer Discretionary stocks continue to perform poorly.  XDJ down -1.39%.  Information Technology (XIJ) was the worst performer today -3.83%.  It's had a great run lately - so it might be pulling back a bit before another move to the upside.  Real Estate (XPJ) also performed poorly -2.49%.

The best today was Energy +1.33%.

Here's the Energy Chart.

XEJ is currently trending sideways, oscillating around the 200-Day MA.

XEJ has been finding support at the Base Line of the Ichimoku system so a move to the upside is most likely

 I'm having trouble with my browser.

This morning's post in in bits and pieces. SP500 is in a sideways consolidation.  Mid and Small Caps say the market is doing better than this chart suggests.

8/6/23. Thursday Morning Finspiration Report.

Dow Up, Nasdaq Down, Mid and Small Caps going berserk.  

Dow Jones +0.27%.  SP500 -0.38%.  Nasdaq -1.29%. Mid-Caps +1.52%.  Small Caps +2.4%.  Banks +1.4%.

Market is healthier than the major indices suggest.

6/6/23. Tuesday Evening Finspiration Report.

 XJO mugged by the RBA at 2.300 p.m. today.  XJO finished down -1.2%.

At 2.30 p.m just before the RBA announced its interest rate decision, the XJO was down a little.  The RBA decision to raise interest rates again (+0.25%) put the XJO into a precipitous dive.  

Only one sector escaped the carnage - Utilities (XUJ) up +0.54%.  I guess people won't be turning off their heaters as winter descends upon us.  But Discretionary Spending will be cut back, again. XDJ (Discretionary) was the worst hit sector, down -2.16%.  

Industrials (XNJ) was the next worst sector, down -1.56%.  Does that suggest our national economy is headed for recession?  Maybe.

Information Technology (XIJ) didn't fare too badly, only down -0.19%.

But Health Care (XHJ) was hit, down -1.39%.  Do people spend less on Health Care in order to pay their mortgage.  Probably.

Looking at the chart, however, it remains in a sideways movement, held up by the 200-Day MA and restrained by the 5-Day and 30-Day MAs.

While the XJO can hold above the 200-Day MA, there's room for a little optimism.

Not much coming out of Europe, STOXX600 down -0.11%.

American Futures are also docile, but leaning to the down side.  DJ Futures -0.14%. SP500 Futures -0.09%.  Nasdaq Futures -0.02%. 

6/6/23. Tuesday Morning Finspiration Report.

 Commodities and stocks both pulled back last night.

U.S. Indices.

Dow Jones -0.59%.  SP500 -0.2%.  Nasdaq -0.09%.  Mid Caps -1.09%. Small Caps -2.03%.  Banks -1.11%.

SP500

SP500 remains in a strong up-trend.  Last night's candle looks lie a pause after two strong days to the upside.  We could see a pull-back to the top of the 30 May candle.

Commodities.

Commodities Index -0.26%.  Energy -0.1%.  Back Metals -0.22%.  Agriculture -0.14%.  Gold +0.6%.

After 30 minutes of trading this morning, XJO is down -0.7%.

Discretionary and Staples sectors are the worst - probably fretting about the RBA's interest rate decision coming out at 2.30 p.m.

5/6/23. Monday Evening Finspiration Report.

XJO up strongly today, +1%.

 

XJO is now stuck between the 50-Day MA and the 200-Day MA.  It might take a day or two to get over the resistance of the 50-Day MA (and Supertrend 11-2).

All indicators in the lower panels are in "buy" positions - so that's a big positive.

I'd expect the next significant move to be to the upside.