Just holding ground on a big down dayYes AGE lost 2 pips to...

Just holding ground on a big down day

Yes AGE lost 2 pips to finish on 6.6c. Our volume was less than yesterday, just under 22m shares traded.

ASX U stocks were down as well. Of the 25 stocks that I track, average decline was around 3%.

Overnight US U stocks were mixed. The ETF of URA/URNM were well in green but many stocks declines, but decline was small, average around half percent. U Future again lost ground, easing another 60c to finish on $51.80.

What next -

Overnight US indices were swinging into green and red, eventually finishing in red, around half percent. ASX though was very determined and went only in one direction - red. Eventually did a big red, around 1.5% drop. Overnight US stocks that I follow held their ground and many were in green. ASX did not do that well, but still there was no major sell off on the big ASX index decline.

Yesterday SP 500 made its first dip below 3900, but somehow managed to finish just above the mark - at 3908. As I have been saying, its crucial to hold this level otherwise the bears could drive it their way. At this stage, just on trading patterns of last 7 days or, its not looking good - there is a feeling a breach may happen any time.

So what will happen tonight? US Futures are in red - again. Asian markets largely red. Volatility index jumped high and is at 26.91 - looking ominous. 10 year yield had a big jump, not looking good again. Cryptos had a big fall yesterday - certainly panicking and thinking more bad news in the offing. Bitcoin now below 19k. Some Some Imports/Exports figures tonight. Also few Feds speaking - they had a big smile when market had a large drop after Powell speech, they may continue in that tone after tasting blood. They can spook more today. Powell to speak tomorrow, and most punters are not hoping for any good from him. Best bet is CPI figure next Wednesday if it come lot lower. But that is still a week away. So everything looking grim - what can then save us tonight? For now, US indices have been falling for around 7 days now (Nasdaq straight 7, SP 500 had a small rise one day but fell other 6). Law of probability says that there should be a green then, no other reason at this stage to save us. Will that happen? Lets hope so. All the best.