FINSPIRATION AUSTRALIA. Sat. 11/11/23.

 American Indices up strongly on Friday night.

Dow Jones +1.15%.  SP500 +1.56%.  Nasdaq +2.05%. Small Caps +1.02%.  Banks +1.08%.

SP500

 SP500 pulled back on Thursday, testing the 50-Day MA.  Friday's strong up candle is a continuation of the trend.  Nest resistance level is the top of the Value Zone and the next hig volume node, around 4450 in round numbers.

Volume was on the low side on Friday, resulting in a negative divergence appearing on the Force Index - volume needs to increase if this rally has legs.

The coming week is Options Expiry Week in the U.S. which has a bullish bias.

Commodities.

 Commodities Index +0.5%.  Energy +1.41%.  Base Metals -0.86%.  Agriculture -0.41%.  Gold -1.09%.

That's a mixed picture for Australian Resources on Monday with Energy up and Base Metals down.

In New York, BHP flat -0.12%.  Rio -1.16%.  Woodside continued to collapse -2.23% on heavy volume.  So we might be seeing a culmination of the downtrend in WDS.  Westpac down -1.56%.

Those New York stock figures look bearish, but Ozzie Futures were up +0.31% overnight, so we should have a positive day on Monday following U.S. up.

STW (ETF FOR XJO)

Thursday's bearish reversal candle played out with a down day for the STW and XJO on Friday.  That brings STW back to support of the Point of Control, the long gray bay on the Volume Profile on the left of the chart.  With a good result in the overnight Ozzie Futures we should have a positive day on the ASX bouncing off support.  We need to see a close above Thursday's high to give another "buy" signal.  That might be a bit of an ask.  That would need a rise of about +1% on the STW. 
 

FINSPIRATION AUSTRALIA.

 10/11/23.  Powell sinks U.S. stocks at 1.00 p.m. (NY time) when he said that the Fed may not have done enough to stop inflation.

Dow Jones -0.65%.  SP500 -0.81%.  Nasdaq -0.94%.  Small Caps -1.33%.  Banks -1.46%

SP500

Last night's candle on the SP500 is a bearish engulfing candle.  Coming at the top of the trend after several doji candles - that's usually a reliable signal.

The Chart remains opposite a congestion zone and above the 50-Day MA so this may lead to consolidation rather than the start of a major pull-back.  Wait.

Commodities.

 Commodities Index -0.25%.  Energy -0.09%.  Base Metals -0.58%.  Agriculture -0.58%.  Gold +0.4%.

After half an hour of trading this morning, XJO is down -0.42%.
 

9/11/23. Thur. Evening Finspiration Report

 XJO up modestly today, up +0.28%, after being much higher earlier in trading.

Chart for STW (ETF for XJO).

 Today's candle is a shooting star - a reversal signal.

Coming at the top of the up-trend, at horizontal resistance and resistance of the 50-Day MA - that probably means the end of this up-trend.

A down day tomorrow will confirm.

Good luck

 

9/11/23. Thur. Morning Finspiration Report.

 Major American indices continue to consolidate, but Small Caps continue to fall.

Dow Jones -0.12%.  SP500 +0.1%.  Nasdaq +0.08%.  Small Caps -0.92%.  Banks -0.36%.

SP500

 SP500 is having difficulty pushing up past the Point of Control and the Value Zone of the Volume Profile.

Volume has fallen away.  Unless volume can pick up to push the Index higher, the path of least resistance is to the downside.

On the plus side, consolidation is taking place above the 50-Day MA.  Wait to see which way this breaks.

Commodities.

 Energy continues to fall heavily, down -1.85%, which should be a positive for stocks, but it hasn't been happening.  Energy is now oversold with an RSI at 33.  If Energy reverses to the upside, that would be a negative for American stocks.

Commodities Index -1.11% {pulled down bt Energy).  Base Metals -0.17%.  Agriculture +0.45%.  Gold -1%.

After 30 minutes of trading this morning, XJO is up +0.4%.  Health (XHJ) is leading the way up >1%.

8/11/23. Wed. Evening Finspiration Report.

 ASX up modestly today.  XJO +0.26%.

Chart for STW (ETF for XJO):

Today was a narrow range day, the narrowest for the past four days (NR4), so expect range expansion tomorrow.

The chart remains in consolidation mode with low volumes being recorded.  That suggests that the next move will be to the upside.  We shall see.

XJO remains with plenty of overhead resistance.

IT (XIJ) was the best performer again today,  XIJ +1.86%.  Property (XPJ) also continues to do well, XPJ +1.18%.

Only two sectors were negative today - both the Resources Sectors, XMJ -1.05%, Energy -0.15%.

OZR is an ETF for the Resources.  It was down today on heavy volume OZR -1.79%.

You can see by the width of today's candle just how heavy the volume was today.  That is also reflected in the bottom pane (volume) which has risen sharply higher, and Force Index which has fallen sharply reflecting both high volume and big fall in price.

That brought OZR almost down to horizontal support, so we could see some upside movement in the near future.

European stocks are mostly flat in early trading,  Euro STOXX600 down -0.05%.  Dow Futures -0.1%.  Oil is also flat, Pil -0.01%.  Gold +0.02%.  Not much direction in any of that.

Good luck

8/11/23. Wed. Morning Finspiration Report

 Major U.S. Indices finish on the positive side, but Small Caps pull back.

Dow Jones +0.17%.  SP500 +0.28%.  Nasdaq up strongly +0.9%.  Small Caps -0.69%.  Banks -0.51%.

SP500

I mentioned yesterday the many factors pointing to a pull-back.  Nothing has changed - except some factors have intensified.  Volume has continued to drop off - coming at the top of a trend that indicates a lack of confidence in the trend.  A push by bears would lead to capitulation.

Commodities.

 Commodities Index -2.14%.  Energy -3.62%.  Base Metals flat 0.00%.  Agriculture -1.34%.  Gold -0.41%.

Adter ninety minutes of trading this morning, XJO is up 0.25%.  Information Technology doing best (following the Nasdaq), up +1.62%.  Materials worst -1.61%. 
 

7/11/23. Tues. Evening Finspiration Report.

 RBA raised interest rates today by +0.25%.  They had to do that because they wouldn't dare do it in December?  Who knows.

It seems the market wasn't too fazed by the action.  It gyrated a bit at 2.30 when the announcement was made but then settled down.  XJO finished down -0.28%.

XJO has failed at a minor horizontal resistance level, but the pull-back so far hasn't been gut-wrenchding, leaving open the possibility of further upside.

Today saw intra-day buying, partly after the interest rate announcement - but nothing dramatic.

Today's candle finished above the 3-Day MA so the up trend remains in place.

Best performing sector today was IT (XIJ), up +1.44%.  Worst was XXJJ (Financials) down -1.04%.  Materials (XMJ) was flat -0.09%.

In early trading, European STOXX600 is flat 0.00%.  Dow Futures -0.19%.  Oil is down -1.95% - that might help the American market later in trading if the Oil price stays down.  Stocks/Oil tend to be inversely correlated.