Dow Jones +0.67%. SP500 +0.87$. Nasdaq +1.11%. Small +0.82%. Banks +2%.
SP500
Last night’s positive result finished off six days of falls. The Index is still in a down trend and faces resistance at the 50-Day MA.
20DMA is close to a negative cross below the 50-Day MA. If that happens (probable) that would be another nail in the coffin of this bull market.
I’ll wait to see how this rally pans out.
Commodities
Commodities Index flat 0.00%. Energy +0.1%. Base Metals -0.2%. Agriculture -1.21%. Gold -2.47%.
After thirty minutes of trading this morning, XJO is up +0.54%.
It’s early in today’s session. I’ll be looking for a sell-off later in the day.
Australian Market Report 