ASX Morning call 7th Nov, page-2

Overnight:

Dow Jones +0.68%.  SP500 +0.63%.  Nasdaq +0.64%.  Russell 2000 +0.55%.

MACD Histogram continues to rise.  With the exception of Nasdaq, Indices have cleared the 20-Day SMA.  Nasdaq is sitting on that line.

SP500:

SP500 is hard up against the 200-Day EMA.  The next couple of days should decide if the bear is dead.

Commodities:

 

Base Metals -1.11%.  Energy -0.25%.  Gold -0.28%.  Copper Miners -1.26%.

None of that looks promising for our resource stocks today.

BHP was down -0.59% overnight in New York, after it was up +1.33% in Australia yesterday.  Currency movements weren’t a significant factor, so that looks like a negative for our market today.  It will be up to the banks to keep us afloat today.

RB