Finspiration Australia.

 18/5/23.  Thursday Evening Finspiration Report.

Today, XJO erased yesterday's losses.

XJO up +0.52% today.  That's promising but not sufficient to turn the market bullish.

XJO needs to get above the Kijun Sen - that's the black line just above the current candle.  RSI also needs to get back above 50.

Europe in early trading is up, Euro STOXX600 up +0.48%, but it is playing catch-up after it fell last night while the U.S. rose.

Dow Jones Futures are up just a little +0.09%.

Finspiration Australia.

 18/5/23.  Thursday Morning Finspiration Report.

U.S. up strongly last night.

Dow Jones +1.24%.  SP500 +1.19%.  Nasdaq +1.28%.  Mid Caps +1.72%.  Small Caps +2.37%.  Banks +5.09%.

SP500

Last night's strong action seems to have resolved the recent impasse in the Index which has just been sliding sideways.

Tenkan Sen (Recovery Line - Blue) is back above the Kijun Sen (Base Line - Black).  That's a bullish signal.

Next seems seems to be horizontal resistance from May 1, at 4190.  SP500 finished at 3939 last night.

Commodities.

Commodities Index +1.19%.  Energy +3.01%.  Base Metals +1.7%.  Agriculture -0.76%.  Gold -0.35%.

Gold's doji candle-stick at the lower end of a down-trend suggests the down-trend could be ending.

Equities and Commodities will both help the Ozzie market today.

Finspiration Australia.

 17/5/23.  Wednesday Evening Finspiration Report.

The Australian market was weaker today with the XJO down -0.45%.

XJO has broken below the support of the top of the Kumo Cloud.

The short-term Hull MA13 has turned down,  Indicators in the lower panels have turned down.

Tenkan Sen (Conversion Line) is below the Kijun Sen (Base Line).  This is a bearish configuration.

The Index remains within the Kumo Cloud - which is a no trade zone.  This can still go either way.

Today's candle shows a long lower wick, so bulls were in the market today trying to push the index back up to the upside.

A break below the Kumo Cloud would be bearish.

Finspiration Australia.

17/5/23.  Wednesday Morning Finspiration Report.

U.S. falls overnight.  ASX to follow today.

Dow Jones -1.01%.  SP500 -0.64%.  Nasdaq -0.18%.  Mid Caps -1.43%.  Small Caps -1.28%.  Banks -1.45%,

Dow Jones fell below short-term support and below the 50-Day MA.

SP500

SP500 remains in its sideways consolidation.  

America appears to be waiting on a solution to the Debt Ceiling negotiations.

Commodities.

Commodities Index -1.09%.  Energy -0.77%.  Base Metals -1.35%.  Agriculture -0.71%.  Gold -1.25%.

Overnight action in Equities and Commodities is a negative for the Australian market today.

Finspiration Australia.

 16/5/23.  Tuesday Evening Finspiration Report.

For the sixth day in a row, XJO is sitting on the Kumo Cloud for support.

Patience.

Finspiration Australia.

 16/5/23.  Tuesday Morning Finspiration Report.

US markets remain stalled by the stalemate in the Debt Ceiling discussions.

Dow Jones +0.14%.  SP500 +0.3%.  Nasdaq +0.66%.  Mid Caps +0.77%.  Small Caps +1.04%.  Banks +2.56%.

SP500

The stalemate is evident here in the SP500.  Indicators in the lower panels are sliding sideways.

The SP500 chart is poised at the Point of Control.  A major move up or down should be decisive.

The Debt Ceiling discussions will inevitably be resolved soon before Armageddon is released.  That will ease the stalemate, then "normal" proceedings will resume.

Commodities.

Commodities Index +1.15%.  Energy +1.68%.  Base Metals +0.43%.  Agriculture +1.25%.  Gold +0.21%.

This morning, after an hour of trading, XJO is down a little, -0.1%.  Investors seem to be positioning for an upside move with defensives being sold off.  Woolworths -1.22%, CSL -1.05%, TLS -0.46%, Coles -0.98%.  Financials up +0.39% and Materials +0.5%.

Finspiration Australia.

 15/5/23.  Monday Evening Finspiration Report.

Australian Market up a smidgin today after losing ground early in the session.

XJO up just +0.14%.  This is the fourth doji in a row with a long lower wick - indicating intra-day buying.  But not enough to push the Index out of its sideways movement.

The Index has been finding support at the top of the Kumo Cloud so it remains in bullish territory.

It wouldn't take much to nudge this up into a bullish rally - but until we see clear evidence for that it pays to be patient.