20-Day MA looms. Jobs Report tonight. Friday Morning Joe. 2 October, 2015.
In Australia today: Retail Sales.
Major Indices, Europe and America
Dax -1.57%. UK +0.18%, France -0.65%, Italy -0.71%. The Europeans saw strong intra-day selling around the 20-Day MA. That's not a good sign.
DJ -0.08%. SP500 +0.2%. Nasdaq +0.15%. New York Composite +0.22%, Russell2000 -0.28%. The American indices were more or less flat after being well down in the lunch session.
NYSE H/L Ratio came in at just 5.5%. Nasdaq H/L Ratio was 9.01%. We need to see much better figures than that before throwing our hats in the air.
The American markets were affected largely by a poor manufacturing index reading. Last month was 51.1: this month 50.2 against an expected 50.6. Friday is Jobs Report Day. A poor figure in that and the Fed could be revising their desire for a rate rise.
Here’s a regular candle stick chart for the SP500:
Today’s hangman candle puts the previous three-day bullish reversal pattern in doubt. A down day tomorrow would be very negative: a bearish reversal after a bullish reversal.
US$ and Hard Commodities:
U.S.$ -0.04%. Commodities show steep intra-day selling. Base Metals -79%, Energy -1.47% and Gold -0.12%. Gold seems to be heading back to the lower end of its trading range. Iron ore +0.2% to finish at 54.5.
Ozzie Dollar +0.16% and finished at 70.27.
EWA (ETF for Ozzie stocks on the NYSE) was up +0.84%.
Other Ozzie Stocks in New York: BHP +1.49%, Rio -0.18%, Westpac +0.38%, ANZ +1.42%, Resmed +0.57%, Newscorp +0.39%.
Economic news today - Retail Sales Report. That's likely to have an effect on Consumer Staples and Consumer Discretionary and possibly the Banks.
RB.
(20min delay)