XJO was up today +0.35% after dipping into negative territory early in the session.
The chart remains well below the 50-Day MA and a death cross of the 20-Day Below the 50-Day MA is imminent.
Indicators remain below their important mid-lines or zero lines which indicate the demarcation between bullish and bearish. DPO (bottom panel) provides a clear example.
Best sectors today were Discretionary (XDJ) up +0.79% and Property (XPJ) also up +0.79%. Those are both interest rate sensitive sectors.
Compositie Bonds (IAF) was also up today +0.38% – better than the XJO which is not a great sign.
Worst sectors today were Industrials (XNJ) -0.53% and Utilities -0.12%.
Energy did relatively poorly today, XEJ up just +0.07%.
XEJ has been in a bearish down-trend since 5 April, when it topped out with a doji candle stick.
This down-trend now shows two doji candle-sticks at the bottom of the trend, which might signal a change in sentiment towards the Energy sector. Too early yet to pile in – but worth-while watching to see if we do get a turn-around.
In early trading this evening, Euro STOXX600 down -0.34%.
Dow Futures are flat -0.08%. Nasdaq Futures doing a little worse -0.19%.
The big news tonight will be the report from Amazon which could be market moving – one way or the other.
Sydney Futures is done just a little -o.09% – in line with the Dow Futures.
The Federal Reserve starts a two day meeting tonight (Oz time). The market might hold off making a big move until the Fed. announces its interest rate decision on Wed. night (Oz time).
Good luck.
Australian Market Report 