U.S. Indices up modestly with intra-day buying evident. Energy down, Gold down.

Dow Jones +0.38%. SP500 +0.32%. Nasdaq +0.35%. Small Caps +0.66%. Banks -0.1%.

Tesla was up 15% last night which helped SP500 and Nasdaq into respectable territory. Bonds were down last night and so was Energy – both were supportive of the stock market.

It’s a big week for news this week. Amazon reports on Tuesday. Apple on Thursday. The Fed meets for a two day meeting and a Jobs Report comes out on Friday. Anything can happen this week as the market will be jerked around by announcements.

SP500.

SP500 has paused at the 50-Day MA – that’s the critical support/resistance level on the chart.

Most of my indicators are now on the bullish side of middle lines or zero lines. The only one that isn’t is CCI, just below its middle line. So the market seems to be setting up for a move to the upside.

Price is always the final arbiter. I want to see SP500 above the 50-Day MA before cheering.

Commodities.

Commodities Index flat -0.08%. Energy -0.57%. Base Metals +1.88%. Agriculture fell heavily -3.61%. Gold remains in consolidation -0.2%.

ASX fell into negative territory just after the start, down -0.05% after 15 minutes of trading.

Most Sectors are down, but Materials (XMJ) is keeping the ASX more or less on a level keel, up +0.73%.

Good luck.