1/10/22/. American stocks continue to tumble. Dow Jones -1.71%....

1/10/22/. American stocks continue to tumble.

Dow Jones -1.71%. SP500 -1.51%. Nasdaq -1.51%. Small Caps -0.65%. Banks -0.84%.

SP500.

SP500 is again extremely oversold with an RSI at 28.47 but showing a small positive divergence.

Stochastic remains in its oversold zone. While it remains in that oversold zone, it is best to resist the temptation to re-enter the market.

A big positive divergence remains on MACD Histogram, that continues to suggest that SP500 is reaching for a bottom and a sustained counter-trend rally is possible.

Commodities.

Commodities continue to suffer along with stocks. Commodities Index -1.24%. Energy -1.74%. Base Metals -2.08%. Agriculture -0.65%. Gold flat +0.01%. The long upper wick on the Gold candle suggests intra-day selling after Gold tested the 20-Day MA. Not a good sign for Gold.

Yesterday in Australia.

XJO fell heavily yesterday -1.23%. It remains in a consolidation pattern after hitting the lower edge of the expanding wedge on Monday. Until XJO breaks above the upper edge of the expanding wedge, it is best to stay on the sidelines.. (That's a medium to long term perspective, not the short-term or day trading perspective which dominates this thread.)