Finspiration Australia. Chart Analysis for Australian and International Stock Markets + Bitcoin

  21/1/2023.  Finspiration Thursday Morning Report.

U.S. stock rebound.

Dow Jones +1%.  SP500 +1.89%.  Nasdaq +2.66%.  Small Caps +1.55%.  Banks +3.12%.

SP500.

The chart shows a classic three-day candle-stick reversal pattern:  big down day, narrow range doji candle stick, big up day.  That has to be taken in context.  SP500 remains below the 200-Day MA which has been a stumbling block for the SP500 for many months.  I'd like to see a clear break above the 200-Day MA before feeling sure about its bullish credentials - but the current reversal pattern looks promising.

Commodities.

Commodities continue to show strength.

Commodities Index +0.6%.  Energy +1.15%.  Base Metals +0.19%.  Agriculture +0.26%.  Gold -0.33%.

Bitcoin.

Bitcoin was up +6.6% last night.  For the week, it is up +12.7%

Bitcoin broke convincingly above its recent consolidation and horizontal resistance.  That looks like a bullish move.  Next hurdle:  200 DMA.

Monthly, Weekly, Daily RSI's:  M - 45.96,  W - 55.02, D - 82.55.

These figures show that Bitcoin is in a strong upside trend (Daily RSI much higher than Weekly RSI).

Until Monthly RSI is above 50, I'll presume this is a counter-trend rally in a bear market.  I'm not saying it can't turn bullish (MRSI>50), but until that happens I'll reserve judgement.

Finspiration Australia. Chart Analysis of Australian and International Stock Markets. + Bitcoin

  20/1/2023.  Finspiration Thursday Morning Report.

U.S. Dow Jones down for third day

Dow Jones -0.76%.  SP500 -0.76%.  Nasdaq -0.96%.  Small Caps -0.86%.  Banks -0.75%.

SP500.

The SP500 has failed again at the 200-Day MA.  Until it gets over that resistance level, I'd be looking for the short-side to dominate.

Commodities.

Commodities were mainly higher.

Commodities Index +1.01%.  Energy +1.8%.  Base Metals -0.6%.  Agriculture -0.66%.  Gold +1.59%.

After an 90 mins of trading, XJO started on the low side, but is now up  +0.2%.  That usually suggests more upside.

Bitcoin.

Bitcoin was up +0.76% last night.

Above is a Heiken-Ashi chart which tends to lag a bit - but good at filtering out noise. 

Bitcoin is consolidating at its highs.  I'd wait until I see which way this breaks.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets.

 19/1/2023.    Finspiration Thursday Evening Report.

XJO enjoys another strong day, up +0.6%.

XJO is close to being overbought with an RSI at 69.42.  CCI is showing a negative divergence, so a pull-back may not be far away.

Seven sectors were up today with one flat (XDJ).  Best performer was XMJ (Materials) +1%.  XMJ was helped by a good production report from BHP, up +1.2%, but that was eclipsed by Rio, up 3.3%.  Next best was XHJ (Health) up +0.9%.  Again we have this unusual blend of Offensive and Defensive sectors at the top of the ladder.

Europe in early trade is down solidly.  German DAX down -0.77%, French CAC -0.7%.  UK FTSE -0.59%.

U.S. Futures are also down.  Dow Jones futures -0.38%.  It seems that America is going to continue down after Wednesday night's big fall.

Stay Safe.

Finspiration Australia. Chart Analysis for Australian and International Markets + Bitcoin

 19/1/2023.  Finspiration Thursday Morning Report.

U.S. stocks down after opening on the high side.

Dow Jones -1.81%.  SP500 -1.56%.  Nasdaq +1.24%.  Small Caps -1.57%.  Banks -2.56%.

SP500.

Last night was an emphatic rejection of the recent highs.

The index may find support now at the Base Line of the Ichimoku System and the lows that formed in early December.

Commodities.

Commodities were mainly lower.

Commodities Index -1.08%.  Energy -1.73%.  Base Metals +0.51%.  Agriculture -0.66%.  Gold -0.29%.

Although Base Metals finished on the plus side, the big black candle indicates strong intra-day selling.

After an hour of trading, XJO is flat, down just 3 points.

Bitcoin.

Bitcoin followed U.S. stocks lower.

Bitcoin was down -2.5% overnight.  There may be a bit more downside before finding support.  Wait.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets

18/1/2023.  Finspiration Wednesday Evening Report.

XJO had another narrow range day which finished flat, XJO +0.1%.

Two doji, narrow range candlesticks coming at the top of a trend usually means that the index is topping out.

This chart looks promising for the long term investor.  The NH-NL Cumulative is now above the 10-Day MA and the 21-Day MA.  The 10-Day MA is close to a bullish cross-over above the 21-Day MA.

This is a long-term indicator and should not be confused with short-term indicators that can jump around quite a bit.  While the NH-NL Cum stays above the 10-Day MA, long-term investors can feel comfortable about their investments.

Six sectors were up today and five down.  Best performer was XIJ (Info.Tech.) +1.7%.  Next best was XHJ (Health) +0.9%.  That's an odd mix of Offensive and Defensive Sectors.  

Tomorrow, BHP is scheduled to provide a production report.  That could be market moving.

In overseas trading tonight, European indices are mainly flat - much like Australia today.

Stay Safe.

Inspiration Australia. Chart Analysis for Australian and International Stock Markets + Bitcoin

 18/1/23.  Finspiration Wednesday Morning Report.

Mixed results in the U.S. overnight.

Dow Jones down -1.14%.  SP500 -0.2%.  Nasdaq +0.14%.  Small Caps -0.35%.  Banks -0.24%.

Goldman Sachs a component in the Dow Jones fell heavily having an adverse effect on the DJ.

SP500.

SP500 appears to be stalling, once again, at the 200-Day MA.  A pull-back here would not surprise.  Watch.

Commodities.

Commodities Index -0.69%.  Energy +0.98%.  Base Metals +0.45%.  Agriculture +0.36%.  Gold -0.65%.

The extraordinary run-up in Base Metals continues.  A pull-back is imminent.

After an hour of trading this morning, the XJO is up marginally, +0.1%.

Bitcoin.

Bitcoin is stalling at horizontal resistance.  I'll wait to see which way this moves out of this small consolidation area.

Finspiration Australia. Chart Analysis for Australian and International Stock Markets.

 17/1/23.  Tuesday Evening Finspiration Report.

XJO finished flat today, down just -0.03%.  

Four sectors up today and three flat.   But the nature of the ups and downs was important.  Best three sectors today were defensives:  Staples +1.8% and Health 1% and Property +1.1%.  Materials, however, down heavily -1.1% and Info.Tech. down  -0.8%.  There was a definite feeling of "risk off" in the market.

Tonight in America, earnings season continues.  Results can often jerk the markets around.

Stay Safe.