22/7/23. Saturday Finspiration Report.

 Dow Jones only just made a positive session, +0.01%, but, up for 10 days in a row.  Best run since 2017.  SP500 just positive, Nasdaq down.

 Dow Jones +0.01%.  SP500 +0.03%.  Nasdaq -0.22%.  Mid Caps -0.22%.  Small Caps -0.33%.  Banks -0.97%.

SP500.

 SP500 remains in an uptrend but pulling back a little.  More downside is likely - with solid support at 4462.  SP500 finished this session are 4536.  So, about another 74 points downside seems likely.  That's only -1.6% from the current level.

Commodities.

Commodities Index +0.54%.  Energy +1.36%.  Base Metals saw plenty of intra-day buying, finished up +0.16%.  Agriculture -0.18%.  Gold -0.31%.

Gold has pulled back to the 50-Day MA - look for a bounce off that line.

ASX Futures are up +0.4%, so it looks like the Oz market will open on the high side on Monday off the back of improving resources.
 

21/7/23. Friday Morning Finspiration Report.

 Dow Jones is indestructible - up for nine days in a row.  Nasdaq crumbles. Commodities up modestly.

Dow Jones +0.47%.  SP500 -0.68%.  Nasdaq -2.05%.  Mid Caps -0.52%.  Small Caps -0.79%.  Banks +0.69%.

SP500

This is the pull-back the market had to have - but Dow Jones didn't get the memo.

SPX remains in an up-trend.  The chart remains bullish - look to buy the dip.

Commodities.

Commodities Index +0.29%.  Energy +0.64%.  Base Metals +0.22%.  Agriculture +0.23%.  Gold -0.51%.

After fifteen minutes of trading, XJO is down -0.37%.  Health and Staples (defensives) are doing best while Information Technology is following the Nasdaq down.  XIJ -1.75%.
 
 

20/7/23. Thursday Evening Finspiration Report.

Big intra-day sell-off on the ASX today - probable end of the up-trend.

And now, for some reason I cannot fathom - I cannot load any charts to my blog.  Which means that any moment I shall throw my iMac through the window.  hmmm.  Settle down petal.

Today's candle, if you could see it, is a huge pipe-stack.  Or maybe, also described as a hypodemic needle.

It means that at the beginning of the day the XJO shot way up high, then spent the rest of the day going back to where it started.  Not a good sign.

That also occurred at horizontal resistance.  Not a good sign.

And it also occurred at the top of a lovely up-trend.  Another not good sign.

I guess you've got it now.  The market is going to go down.

Given that the Dow Jones has been up eight days in a row and its RSI is suffering vertigo from being up in the stratosphere (i.e., above 70) and you can conclude that the XJO is pre-empting a sell-off tonight in America.

Anyhow - that's how I see it.

And I still can't load a chart.  Damn.

 

20/7/23. Thursday Morning Finspiration Report

 Dow Jones up again - eight days in a row.

Dow Jones +0.31%.  SP500 +0.24%.  Nasdaq +0.03%.  Mid Caps +0.36%.  Small Caps +0.59%.  Another big day for the Banks +2.62%.

Intra-day selling is evident in today's candle for the Dow, so bears are becoming active in the market.

SP500.

 

SP500 remains in a strong up-trend.  

RSI is at 75 which is a bit too stretched to the upside.  Of course, it can go higher.

Plenty of support lies nearby - so any pull-back is likely to be bought.

Commodities.

 Commodities Index +0.55%.  Energy +0.08%.  Base Metals -0.49%.  Agriculture +1.2%.  Gold +0.02%.

XJO this morning, at 10.45, is up strongly, +0.73%.

 

19/7/23. Wednesday Finspiration Report.

 ASX had another good day today.  XJO up +0.55%.

XJO continued its bullish rally today after two days of consolidation.

The index how has a higher high and a higher low - the definition of an up-trend.

XJO finished at 7323.7 today.  That's not far off a major horizontal resistance line at 7367.2.  That could cause the Index some difficulties.

Nine out of eleven sectors were up today, but one of the negative sectors was XMJ (Materials) down -0.56%.  That was more than balanced by the four big banks which were all up more than +1% today.

In early trading in Europe, UK FTSE is up +1.53% after inflation came in lower than expected.  Dow Futures are up +0.19%.

Let's see what tomorrow brings.

19/7/23. Wednesday Morning Finspiration Report.

 Unbelievable, Dow Jones up seven days in a row.  And, banks are going berserk.  (Did someone mention recession?  Daft fool.  It's Earning Season!  Let's party.)

Dow Jones +1/05%.  SP500 +0.71%.  Nasdaq +0.76%.  Mid Caps +0.94%.  Small Caps +1.4%.  Banks +3.03%.

SP500.

 

Blue skies above.  Nothing to worry about here.  Ignore the negative divergence on the CCI.  Ignore the RSI overbought at 74.  Ignore that big candle in the last session that went up on low, low volume.

Just buy, buy, buy.  (Not.)

Commodities.

Commodities Index +1.32%.  Energy +1.42%.  Base Metals -1.08%.  Agriculture +1.4%.  Gold +1.15%.

XJO today, after 45 mins. of trading, is up +0.68%.  Enjoy the party - don't worry about the coming hangover.
 

18/7/23. Tuesday Evening Finspiration Report.

 XJO down a little today -0.2%.

XJO has now had two negative days in a row, but no technical damage done so far.

Both days have seen some intra-day buying, which means the bulls haven't completely throw in the towel.

The trend remains bullish - stay with the trend until otherwise indicated.

Four sectors were up today.  The best was XHJ (Health) +0.93%.  That suggests we are seeing some switching out of cyclicals into defensives.  XHJ has been quite weak lately because of a poor report from CSL which fed through to the rest of the sector.  CSL was up 2.22% today.  Here's its chart:

Today's candle is a bullish engulfing candle on heavy volume - which suggests institutional activity.

Intra-day action was also interesting.  CSL was down -0.5% in early trading today until about 2.00 p.m. when it took off.  It finished today at 264.57.  According to The Motley Fool, UBS has a target of $340 for CSL,  That's a lot of space from the current price.

In evening trade, Europe is up modestly.  German DAX +0.17%.  French CAC +0.22%.  UK FTSE +0.25%.  Dow Jones Futures are flat +0.03%.