Let it go......Friday, page-10

In America:



Falls in the last hour of trading eroded earlier gains. DJ -0.06%, SP500 -0.05%, Nadaq +0.04%, NYA +0.14%, Russell2000 +0.38%.

XLF (Financials) down -0.62%.

SP500:



Heiken-Ashi chart is indecisive, showing a possible trend change. A negative divergence has has up on the Money Flow Index, which could mean that the current uptrend will be limited. Relative Strength, MFI, CCI and Stochastic are all on short-term sell signals. Wait.

Australia remains uncorrelated with the broad American market. The commodities pricing helps a little but the major American indices are not much assistance.

Commodities:

DBC +0.15%. Energy +0.83% Industrial Metals +0.51%. Copper Producers ETF was up +1.14%. Gold +0.34%. Iron Ore +1.1%.

Rio and BHP are set up for rises in the near future. With positive metals and energy prices overnight, they should do OK today.

So long as the bank stocks aren't spooked by the new tax in South Australia, we should be up today. That news was known yesterday and the banks still rose.

RB.