06/05 Indices, page-40

Mixed results in New York last night. Small Caps down. Energy down, Gold up. 11/5/24.

Dow Jones +0.32%. SP500 +0.16%. Nasdaq -0.03%. Small Caps -0.4%. Banks +0.33%.

SP500

This has been a strong rally by the SP500 with seven days finishing higher than the 5-Day EMA.

Last night's doji candle suggests this rally may have run its course in the short-term. Watch for a modest pull-back, which will probably be bought, to be followed by another strong rally.

Commodities.

Commodities Index down a little, -0.17%. Energy -1.03%. Base Metals -0.15%. Agriculture +1.11%. Gold +0.81%.

Yesterday in Australia

XJO up modestly yesterday, +0.36%. That recovered only a little ground from Thursday's dizzy plunge.

Yesterday's candle was a narrow range, inside day - indicating indecision.

Support has been found at the 50-Day MA - which was resistance back on 24 April. So that's a positive sign for the XJO. Double bottom remains intact.

The Super-trend lines remain mixed (yellow and blue) as a result of Thursday's plunge - so the trend may be changing.

Watch for bullish conditions if we get three yellow Super-trend lines.

Good luck