17/12/22. Finspiration Saturday Report.
CNN has come out and said it:Dow tumbles on recession fears. So much for a Santa Claus rally.
You know what the cynic in me says. ............ Watch this space.Overnight in America - yes the Dow did tumble. Commodities also fell.SP500.The Index fell to the 50-Day MA last night - that's a probable support level. A little intra-day buying was seen in the Index. That came in the last hour of trading which is often a sign that institutions are starting to play in this game.Commodities.Commodities Index -1.27%. Energy -1.4%. Base Metals -1.4%. Agriculture -0.3%. Gold was a bright spot, up +0.87%, bouncing off the 20-Day MA.With stocks and commodities both down - there's not much hope for Australian stocks on Monday.Bitcoin.Yesterday in Australia.50DMA is above 200DMA - that's a Gold Cross. Watch for a bounce in the near future. but not always reliable. If XJO falls below the MAs that negates the Gold Cross signal. Look for a bounce in the near future.
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