Sat. 18/12/21.  U.S. stocks fall for 2nd day.

Overnight:

Dow Jones -1.48%.  SP500 -1.03%.  Nasdaq -0.07%.  Small Caps +0.32%.  Banks -2.83%.

Options Expired on Friday, which may have had an effect on closing prices today.  

SP500:

Short-term trend is sideways, and in danger of breaking to the downside.  It currently has plenty of support:  Kijun-Sen, Supertrend and 50-Day MA, so I expect SP500 to bounce here after two days of downside action.

Commodities:

Commodities Index is in a sideways consolidation.  Dow today -1.18%.  Energy -2.01%.  Base Metals -0.23%.  Gold -0.21%.

Yesterday in Australia:

XJO was up a little +0.11% on Friday.  It remains within its trading range where it's been since September.

There's not much point in taking a position until it breaks out of this trading range.

 Fri. a.m. 17/12/21.  U.S. Stock fall led down by Tech.

Overnight:

Dow Jones -0.08%.  SP500 -0.87%.  Nasdaq -2.47%.  Small Caps -1.63%.  Banks +0.11%.

Sp500:

SP500 is struggling to rise above horizontal resistance and set a new closing high.  The trend remains bullish - stay with the trend.

Commodities

Commodities Index +0.6%.  Energy +0.5%.  Base Metals +2.15%.  Gold +1.21%.

Iron Ore +4.6%.

Overnight Oz Futures +0.1%.

After 30 minutes of trading, XJO is once again defying the results from the U.S. overnight and is currently up  more than +0.4%.

 Thu. p.m. 16/12/21.  Despite strong gains overnight, the Australia market fell today.

XJO down today -0.43%.

XJO remains in a short-term down-trend, but in a medium-term sideways consolidation, basically going nowhere.

Today wasn't as bad as the raw figure for the XJO suggests.  Breadth was OK, with NH-NL = 15, and Advances -Declines = +97.  CSL was a big drag on the system today.  CSL -8.2%.  CSL is the third largest stock on the ASX200.  BHP fell -1%. CBA -0.1%.  Small Caps were up +1.8%.  Mid-cap 50 was up +0.15%.  So, it was a case of some large cap stocks falling while the rest of the market showed resilience. Not too bad in the scheme of things.

 Thu. a.m. 16/12/21.  U.S. Stocks rise strongly after Fed. decision announced.

Overnight:

Dow Jones +1.08%.  SP500 +1.63%.  Nasdaq +2.15%.  Small Caps +1.27%.  Banks +0.18%.

Major indices were hovering in negative territory before the Fed. decision was announced, but then rose strongly after the announcement.

SP500:

SP500 has bounced strongly off support and now close to a new record closing price.  Stay with the trend which is up.

Commodities:

Commodities Index +0.5%.  Energy +1.16%.  Base Metals -0.1%.  Gold +0.43%.

Iron Ore.  +1.3%.

Overnight Oz Futures +0.5%.

Despite all of the above good news, XJO is down a little just 15 minutes after trading -0.02%.  Maybe we'll see a rebound here.

 

 Wed. p.m. 15/12/21.  XJO falls on Fed jitters.

XJO down heavily -0.7%.

XJO is back to support of the Tenkan Sen and Kijun Sen.  Trend Finder is still negative.

In the larger scheme of things, XJO has been trading sideways for about three months.  Until that sideways range is resolved, it's best to stay away from new commitments in this market.

 Wed. a.m. 15/12/21.  U.S. Stocks down for 2nd day.

Overnight:

Dow Jones -0.3%.  SP500 -0.75%.  Nasdaq -1.14%.  Small Caps -0.58%.  Banks +1%.

SP500.

SP500 finished down heavily but there was plenty of intraday buying (long lower wick on today's candle).  

The above chart is an Ichimoku Chart which has a variety of support and resistance levels.  SP500 today found support at the Tenkan Sen and Kijun Sen.  Trend Spotter remains bullish, but SP500 needs to bounce here.

(Ichimoku is a complex technical analysis system developed by a Japanese journalist who worked on the system for over 20 years before publishing in 1968.  Elements of the system can be found on Investopedia.)

Commodities.

Commodities followed stocks lower.  Commodities Index -0.89%.  Energy -1.33%.  Base Metals -1.08%.  Gold -0.93%.

Iron Ore -1.8%.

None of the above looks hopeful for our market today.  Overnight Oz Futures down -0.4%.

The American Federal Reserve will hand down a decision on interest rates tonight (Australian time).  The announcement may be a catalyst for movement in the American stock market.  With American inflation now running at about +6%, the Fed must be getting worried.

 Tue. p.m. 14/12/21.  XJO flat today.

XJO was flat today, down just -0.01%.  That was a creditable effort given the poor performances overnight from the U.S.

The long lower wick on today's candle shows intra-day buying.  XJO was down about -0.4% in early trading.

In the broader scheme, XJO remains in a choppy sideways consolidation.  Until we see a break-out from that sideways consolidation, it's best to hold fire.