Finspiration Australia. Oz and U.S. markets continue surge higher.

 Yesterday in Australia.

 

XJO up +0.6% and up +3.27% for the week.  That's the best weekly rise since 1 February.

Short-term, the XJO is bullish, longer term it remains bearish.

XJO is below the 200-Day MA where it failed twice in February.  That's a major hurdle now for the XJO.

Overnight.

Dow Jones +0.8%.  SP500 +1.17%.  Nasdaq +2.05%.  Small Caps +0.58%.  Banks -0.14%.

SP500.

Sp500 up +6.16%, its best week since early November, 2020.

Like the XJO, SP500 is short-term bullish but facing the prospect of resistance at the 200-Day MA.

This looks likely to be the start of a sustainable rally, but SP500 needs to get above the 200-DMA.

Counter-trend rallies in bear markets typically fail when RSI reaches about 60.  RSI is currently at 57.24 - not far away.  If this is more than a counter-trend rally, RSI will probably reach to about 70.  Let's see how it goes.

Commodities.

Commodities Index +0.47%.  Energy has resumed its upside rally, +1.43%.  Base Metals +0.04%.  Gold -0.88%.

The upside rally is likely to fail before it reaches the recent high.

New York Advances-Declines Cumulative.

A-D Cum is back above its 20-Day MA.  That's a significant milestone and probably indicates that the market has reversed from its previous bear trend. 

Finspiration Australia. XJO up strongly today.

XJO up +1.05%.

 Today's action had a lot of bullish intentions behind it.  XJO has risen above the 50-DMA and above the Ichimoku Cloud.  Those are both bullish actions.

On the negative side, it remains beneath the 200-DMA which is usually taken as the arbiter between bullish and bearish.

Back in February, the 200-Day MA proved to be an impenetrable barrier.  If the XJO can get above that, it should be blue skies for the bulls.

Today's action was so good, we can expect something of a pull-back or consolidation tomorrow.  The action after that will decide the future of the XJO in the medium term.

Good luck and good investing.

Finspiration Australia. U.S. raises rates, markets rise. Que?

 Overnight.

Dow Jones +1.55%.  SP500 +2.24%.  Nasdaq +3.77%.  Small Caps +2.49%.  Banks +3.63%.

SP500.

SP500 is now short-term bullish, Hull MA13 has turned up and Supertrend 1.5/7 has switched from bearish to bullish.

Until SP500 rises above the 200-Day MA and the Ichimoku Cloud, its long-term prospects remain suspect.

Commodities.

Commodities Index -0.85%.  Energy +0.14%.  Base Metals +0.41%.  Gold +0.63%.

Iron Ore +7.3%.

The XJO this morning after 30 minutes to trading is up +1.4%.  

Finspiration Australia. XJO follows U.S. market to the upside.

 XJO up today +1.1%.

XJO now faces its first major test since the low in early March.  XJO is hard up against the top edge of the Ichimoku Cloud and the 50-Day MA.  

Breadth was good today with 821 Advancing Issues and 574 Declining Issues.  That still hasn't shaken the A-D Cumulative Chart out of bearish territory but it's not far off a break above the 10-Day MA.

The Oz Federal Government announced support for a small number of companies in critical metals, EVs and Batteries.  That resulted in a move in the Materials Sector of +0.4% despite a fall in Iron Ore of -6.5%.  

All sectors were up today, the leading sector was Information Technology (XIJ) up +3.3%.  

All eyes will be on the U.S. tonight when the Federal Reserve announces its interest rates, with an expectation that rates will be raised by +0.25%.

Finspiration Australia. Dow Jones up almost 600 points.

 Overnight.

Dow Jones +1.82%.  SP500 +2.14%.  Nasdaq +2.92%.  Small Caps +1.05%.  Banks +0.77%.

SP500.

Despite the big rise last night, the technical picture for SP500 remains much the same.  It continues within its short-term sideways consolidation.  Plenty of overhead resistance remains.

This remains a "sell the rallies" scenario.

Commodities. 

Commodities Index -2.46%.  Energy -4.3%.  Base Metals flat -0.08%.  Gold -1.87%.

Iron Ore -6.5%.

U.S. Federal Reserve announces its interest rate decision tonight (Oz Time).

After 15 minutes of trading, XJO up +0.56%.  Resource stocks are down, keeping a cap on the XJO.

Finspiration Australia. Resource stocks pounded. 15/3/22

 XJO down today -0.73%.

XJO remains within its recent trading range where it's been since late February.

Today's candle is "in the Ichimoku Cloud" which is a "don't trade" zone.

XJO could go either way, but it has so much overhead resistance, the line of least resistance is to the downside.

Resources were hit today.  Energy (XEJ) down -2.9%.  Materials (XMJ) down -3.7% after iron ore fell heavily.

On the upside was Financials (XXJ) +1%.  XXJ is the biggest sector in the ASX and that saved the market from some dramatic falls today.

Also rising to the upside was Telecoms (XTJ) up +0.7%.

Breadth today was poor.  Advances/Declines = 422/963.  New Highs/NewLows = 11/87

Until these two charts get above their moving averages - stay defensive.

Finspiration Australia. Dow flat, Nasdaq down 15/3/22.

 Overnight.

Dow Jones flat 0.00%.  SP500 -0.74%.  Nasdaq +2.04%.  Small Caps -1.17%.  Banks +1.73%.

SP500.

SP500 is back down to the lower edge of its trading range.  Medium and long term, the index is bearish.

The index has experienced a "death cross" with the 50-Day MA crossing below the 200-Day MA.  It's not always an accurate guide to a bear market beginning, but it should continue to make investors take a defensive stance.

Commodities.

Commodities Index -2.93%.  Energy -4.25%.  Base Metals -3.31%.  Gold -1.51%.

Iron Ore -6.2%.

After 15 minutes of trading, the XJO is down about 60 points, or -0.8%.  That's not surprising given the overnight results from America for stocks and commodities.  Resources are leading the drop to the downside, but Financials (XXJ) up about +1%.