In America: SP500 -0.29%, Dow Industrials -0.42$, Nasdaq 100...

In America:

SP500 -0.29%, Dow Industrials -0.42$, Nasdaq 100 -0.33%, New York Composite -0.32%, Russell 2000 -9.47%, Transport -0.26%.



The pull-back could be over. Plenty of “spinners” on the above charts. We need an up day to confirm.
The condition of the New York Composite NYA (the broadest index of the above group) is most interesting. The above chart doesn’t show this data – but it is now down to the 100-Day MA and a significant support level. The 100-Day MA provided support in April when the market had a significant pull-back. The candle today was a wide-range spinner – so it is likely to be at least a short term bottom.


Here’s the detailed chart for the SP500:



The Index is oversold with RSI now below 30 for two days in a row. MFI is now down to levels where, this year, rebounds have soon come. CCI has hooked up on a down day – that’s positive. We still haven’t reached a significant support level for this index – so that might be a day or two left on the down side, but we’re close to a rebound. The low today was only 0.42% above the 100-Day MA. That’s not far away – so if we get to that level, I think we’ll see a rebound. Then we’ll see the mettle of the bears.

Here's one for the Fib Fanatics:



Commodities:



Commodities were mostly down. CRB -0.66%. Industrial Metals -0.71% and broke below the 20-Day MA. Copper Futures -0.51%. The only positive item was Precious Metals +0.79%. US$ Gold up +0.94%. POG hanging on to the 200-Day MA.

Oz Stocks in NY:

BHP -0.2%. Rio -1.13%. Westpac -0.72%. ANZ -0.22%. EWA -0.64%. Ozzie Dollar +0.18%.

Full Weekly Report tomorrow.

Redbacka