10/6/23. Saturday Finspiration Report.

 Australian and American markets remain in the Doldrums.

XJO - ASX200

XJO was up yesterday, +0.32%, but it was a narrow range day sitting at the 200-Day MA.  

ASX is closed on Monday for the King's Birthday, so we'll have to wait till Tuesday to see how this resolves.  

At this stage the chart is bearish but holding at the 200-Day MA - that's a positive.

Overnight in the U.S.

Dow Jones +0.13%.  SP500 +0.11%.  Nasdaq +0.1%.  Mid Caps -0.59%.  Small Caps -0.83%. Banks -0.56%.

SP500.

On Friday night, SP500 rose above a major horizontal resistance level, but then said, "Nuh".  Intra-day selling saw the index pull-back to just below resistance.  Such action at a major resistance level usually indicates more down-side.  A likely target is the 30-Day MA - that's the blue dotted line, which is co-incident with the Base Line of the Ichimoku system.

Commodities.

Commodities Index -0.61%.  Energy -0.67%.  Base Metals -0.55%.  Agriculture -0.24%.  Gold -0.27%.

In New York, BHP -0.58%.  Rio flat -0.05%.

Our market will have to digest Monday's stock market news before re-opening on Tuesday.

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

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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.