Sat. a.m. 30/5/20. Mixed results in NY after Trump rattles sabre (quietly).
Yesterday in Australia.XJO was down yesterday -1.63%.
The short-term and medium-term trends are bullish. The long-term trend is still in doubt.
Friday's action looks bearish but there's plenty of near-by support. Stay with the trend.
Overnight:Indices were generally weak for most of the session until Trump spoke about China, and buying kicked in to make most of the indices look respectable.Dow Jones flat -0.07%. SP500 +0.48%. Nasdaq +1.29%. Small Caps -1.03%.
BKX (Banks) down -2.24%. That doesn't augur well for our Banks on Monday.
SP500:SP5500 remains above the 200-Day MA.
Short-term and medium-term trends are bullish. Stay with the trend.
Commodities:
Commodities Index +1.73%. Base Metals +2.6%. Energy +2.58%. Gold +0.74%.Investor Sentiment:
79% of IG clients are short the SP500. As a contrarian signal, that is bullish. Investor sentiment data isn't a great timing device, but something to keep in the background.
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- Weekend Charts and Chat. 30/31 May
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