Chaos Never Dies.....Wednesday, page-8

Wednesday Morning Joe. 9 November, 2016.

In America:


The Clinton-will-Win Rally continued on election day. DJ +0.4%, SP500 +0.38%. Nasdaq +0.53%. New York Composite 0.4%. Russell 2000 +0.24%. Now, we have to wait to see if the stock market has got the winner right.

NYSE NewHigh/NewLow Ratio improved a little, 61.9%. NLs remain uncomfortably high at 56.

SP500:



SP500 slowed its ascent as it ran into overhead resistance of the 50-Day MA and the Super Trend Line. RSI (52.7) has moved into bullish territory above its mid-line. Ditto for CCI which is above its zero line. Money Flow Index still hasn't picked itself up off the floor. It needs to get above the 10-Day MA.

We can always get another Black Swan event – but, at this stage, the American market is looking bullish.

Commodities:



DBC down marginally -0.14%. The width of the doji candlestick indicates that volume was very high. Today was indecisive - and the trend is indecisive.

Energy -0.44%. Industrial Metals 0.96%. Gold continued to lose ground -0.42%. Iron Ore continued its bullish run, up +1.5%. Copper +2.7%

Australia was up marginally yesterday. The Ozzie $ fell in overnight trade -0.29%. Those two figures should have provided headwinds for the Australian ETF in America (EWA), but it was up very strongly +0.98% - much more than the American indices. That augurs well for the Australian market today. Banks were a drag yesterday. It will depend on them again today - and the American election result, which should become evident as our trading day proceeds.

RB.