4/11/23. Saturday Finspiration Report.

 Yesterday was Jobs Day in the U.S.  and the employment figures came in weaker than expected.  Bad News = Good News for the U.S. stock market.  Dow Jones has been up five days this week - its best week in more than a year.

 

 Dow Jones +0.66%.  SP500 +0.94%.  Nasdaq +1.38%.  Small Caps +2.73%.  Banks +3.07%

SP500

 SP500 has had a great run this week.  Now it is running into multiple resistance levels, horizontal resistance, 50-Day MA and the Kumo Cloud.  Expect a pause or pull-back here.

Commodities.

Commodities Index -0.52%.  Energy -1.71%.  Base Metals +0.49%.  Agriculture +0.72%.  Gold +0.36%.

Overnight in the U.S., BHP +1.23%.  Rio +0.77%.  Woodside +0.47%. 

Yesterday in Australia.

XJO was up strongly yesterday.  XJO +1.14%.  STW (ETF for XJO) +1.18%.

The Candle Volume for STW was very wide.  Force Index and Volume are at very high levels.  These volume studies suggest that STW (and XJO) are at or close to a short-term high.

STW is near a horizontal resistance level.  Given overnight action in the U.S. that horizontal resistance level is likely to be hit - and that might result in a consolidation or pull-back in STW and XJO.

3/11/23. Friday Morning Finspiration Report.

 Last night, U.S. markets continue their upside move.  All three major indices were up strongly.

 

Dow Jones +1.7%.  SP500 +1.89%.  Nasdaq +1.79%.  Small Caps +2.66%.  Banks +4.46%

SP500

SP500 up for the fourth day in a row.  It is now at a major resistance level and close to the Value Zone and Point of Control.  We could get a reversal day on Friday.

Commodities.

Commodities +1.06%.  Energy +2.11%.  Base Metals -0.05%.  Agriculture +1.18%.  Gold +0.33%.

After an hour of trading this morning, XJO is up +0.92%.  Property is again leading the way, up +2.38%.  Energy is down, -0.2% and Staples is down, -0.36%.  Financials up, 0.99%.

2/11/23. Thur. Evening Finspiration Report

 Strong Oz market today.  XJO up +0.9%.

Here's the STW Chart (ETF for XJO).

STW gapped up on the opening after the Federal Reserve interest rate announcement.  A bit of intra-day selling came in during the day as the STW hit the Tenkan San (Base Line of the Ichimoku System).   Momentum might slow here.

Oz Vix has now broken below its up-trend line - another bullish sign.

IT was the best performing sector today +3.23%.  IT is a "growth" sector - good to see a growth sector leading the pack.

Second best today was Property,  XPJ +2.36%.  Property continues as a leading sector.

VAP had a false break below the Value Zone of the Volume Profile (big shaded rectangle on the chart).  When that happens the chart usually heads up to the top of the Value Zone.

VAP currently at 72.15.  Top of Value Zone 78 (round number).  That's a sizeable rise from the current level.

Only caveat - VAP is now at the Point of Control - that might cause a few problems.  If VAP rises above that, top of the Value Zone shouldn't be a problem.

Good luck.

 

Dow Jones +0.67%.  SP500 +1.05%.  Nasdaq +1.64%.  Small Caps +0.45%.  Banks +0.13%.

SP500

 SP500 has had three days to the upside and has now reached the Kijun Sen (Base Line of Ichimoku System),  DZ Stochastic is above its lower line and headed up.  RSI is also rising.  Looks good to me.

Commodities.

 Commodities Index +0.15%.  Energy -0.49%.  Base Metals +0.93%.  Agriculture -0.14%.  Gold +0.32%.

After 90 minutes of trading this morning, XJO is up strongly +1.3%.

1/11/23. Wes. Evening Finspiration Report.

The ozzie market had a rare show of confidence today despite the looming Federal Reserve decision tonight.  XJO up +0.85%. 

XJO has been in a lengthy down-trend since August (three months), but we now seem to have the start of a counter-trend rally (at least).  It still has a lot of work to develop a strong bull up-trend.

XJO has formed a three day reversal pattern at the end of this down-trend (big down day, doji, big up day).  That's usually a reliable reversable pattern.

The index is coming off a very oversold condition.  RSI was below 30.  That also suggests we'll see a good rally.

We'll just have to wait and see if this is a rally which should be sold into.  

Nine out of eleven sectors were up today, led by Property +1.85%, followed by Health +1.45%.  Those have been two beaten down sectors.  Perhaps they are now taking over leadership roles.

European stocks are up a little in early trading.  STOXX600 +0.17%.  Dow Futures -0.37%.

Oil is up +0.75%.  That fits with a down sentiment on the Dow.  It looks like the Americans will need a boost from Fed Head Powell if it is to get back into positive territory.

Good Luck

1/11/23. Wed. Morning Finspiration Report

 Europe up, U.S. up.  Sydney Futures up.  What could go wrong?

Dow Jones +0.38%.  SP500 +0.65%.  Nasdaq +0.48%.  Small Caps +0.79%.  Banks +1.12%.

SP500.

 Yesterday I said I'd like to see SP500 above the Supertrend line and for DZ Stochastic to break above its lower band.  Both of those happened last night.  

Next hurdle is the 50-Day SMA, and the two signal lines of Ichimoku - Tenkan Sen and Kijun Sen (Conversion Line and Base Line).  A favourable Federal Reserve report tonight might see all of those broken to the upside.  We shall see.

Commodities.

Commodities Index -0.37%.  Energy -0.36%.  Base Metals -0.76%.  Agriculture +0.5%.  Gold -0.55%.

If U.S. stocks are up, we expect to see Energy and Gold down.  That happened last night.  All's right with the world.

After 30 minutes of trading this morning, XJO is up +0.35%.
 

31/10/23. Tues. Evening Finspiration Report.

 The Ozzie market ground to a halt today.  XJO up +0.12% and plenty of intra-day selling to pull the index off its highs.

It seems that nobody want to take a risk until after the Federal Reserve hands down its interest rate decision tomorrow night (Oz time).

Momentum has ground to a halt as evidenced by a flat RSI and flat DZ Stochastic.

RSI is at such a low level that I'd have to think the only way from here is to the upside.  But - the market might have different ideas.

Despite the flat finish, eight sectors were up and three down.  Materials (XMJ) was a big drag on the market, down -1.08%.  At the other end of the scale was Property +1.06%.  

Today's bullish engulfing candle, coming at the end of a down trend, looks tantalizing.  At the very least it suggests a short-term up-trend.  Are some big punters taking a bet on the Federal Reserve holding interest rates steady?

In early trading this evening, European stocks are moderatly up.  STOXX600 +0.4%.

Dow Futures up modestly +0.26%.  Oil is also up +0.94%.  Computer says - NO.  Shouldn't happen.  Dow and Oil are usually inversely correlated.  Bond yields are down a little (price of bonds up).  That's the way it "should" be.  Maybe Oil has got it wrong.  

Good luck.